[ferro-alloys.com]Yesterday, U.S stock index went up. People did not think the stock was on risk. U.S dollar dropped down a little. Due to downturn of nickel market, LME nickel price kept on falling. By the end of trading, LME nickel was quoted at 11030 USD/T. It was 55 USD/T lower than the price on Tuesday. Influenced by downturn of nickel market, Shanghai future nickel price went down largely in the morning. Compared with Wuxi 1812 contract, the discount of Russian nickel was 100-150 RMB/T, and the premium of Jinchuan nickel was 10800 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 100500 RMB/T. It was 1500 RMB/T lower than the price yesterday.

At present, stainless steel was still in downturn. Both 304 series stainless steel price and 201 series stainless steel price fell down today. Due to downturn of nickel market, ferronickel price was kept in lower level. Today, the purchase price of high grade ferronickel by Eastern Special Steel was 1000 RMB/Nickel. The mainstream price of high grade ferronickel was 985-1000 RMB/Nickel, and the mainstram price of low grade ferronickel was 3500-3600 RMB/T.

• [Editor:王可]