[ferro-alloys.com]On last Friday, G20 Summit was held. The traders worried that trade tension would be updated, so U.S dollar avoided risk. Besides, due to the background of raising interest rate, the index of U.S dollar rose up. The prices of most nonferrous metals lifted up. By the end of trading, LME nickel was quoted at 11095 USD/T. It was 85 USD/T higher than the price on last Thursday. At weekends, Chinese President and U.S president made an agreement that both side would halted imposing new tariff on each other’s goods. Encouraged by the good news, the price of Shanghai Future nickel, the price of Russian nickel, and the price of Jinchuan nickel rose up in the morning. Compared with Wuxi 1812 contract, the discount of Russian nickel was 200 RMB/T, and the premium of Jinchuan nickel was 7500 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 100000 RMB/T. It was 800 RMB/T higher than the price on last Friday.

The Sino-U.S trade tension has eased. It encourage domestic nickel market today. The stainless steel price lifted up, and the price of high grade ferronickel stopped declining. However, the demand for ferronickel was still insufficient, the price of high grade ferronickel could not rise. It remained at 940-960 RMB/Nickel. The low grade ferronickel kept steady. Its mainstream price maintained at 3500-3600 RMB/T. 

• [Editor:王可]