[ferro-alloys.com]Yesterday, British Parliament voted down Brexit bill. It made exchange rate of British pound and U.S dollar went down. Meanwhile, U.S announced to impose saction on Venezuela. The crude oil price went up, so did the metal price. By the end of trading, LME nickel was quoted at 12145 USD/T. It was 300 USD/T higher than the price on Monday. Due to rising of LME nickel price, the domestic nickel price went up largely. Compared with Wuxi 1902 contract, the discount of Russian nickel was zero, and the premium of Jinchuan nickel was 1000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 98300 RMB/T. It was 2300 RMB/T higher than the price yesterday.
Encourged by rising of nickel price, the price of 304 series stainless steel went up, so did the price of high grade ferronickel. The mainstream price of high grade ferronickel was 960-975 RMB/Nickel. The low grade ferronickel price kept steady. It remained at 3250-3450 RMB/T