[ferro-alloys.com]Yesterday, the positive effect by release of Sino-U.S trade tension faded away. The market became reasonable. So, LME nickel price dropped down.By the end of trading, LME nickel was quoted at 11740 USD/T. It was 195 USD/T lower than the price on last Friday.In the morning, influenced by falling of LME nickel price, Shanghai nickel price went down.Comared with Wuxi 1811 contract, the premium of Russian nickel was 400-500 RMB/T, and the premium of Jinchuan electrolytic nickel was 8000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 106000 RMB/T. It was the same as the price yesterday.
Influenced by falling of LME nickel, stainless steel price dropped down. The negative effect by sale of Indonesia made ferronickel was gradually fading away. The supply of ferronickel was still insufficient in general. So, ferronickel market kept steady today. The mainstream price of high grade ferronickel maintained at 1030-1045 RMB/Nickel. The low grade ferronickel price remained at 3550-3650 RMB/T