[ferro-alloys.com]Yesterday, FED chairman Powell said that they would be patient with interest rate. The index of U.S dollar went down. In response to criticism by Trump, OPEC announced that they would insist on cutting down their output of crude oil. The oil price lifted up. By the end of trading, the price of LME nickel was 12935 USD/T, it was 35 USD/T lower than the price yesterday. The traders were not very positive in domestic market of future nickel. The price went up a little. Compared with Wuxi 1903 contract, the premium of Russian nickel was 50-100 RMB/T, and the premium of Jinchuan nickel was 300 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 102800 RMB/T. It was 500 RMB/T higher than the price yesterday.

At present, the price of 304 series stainless steel rose up a little. Some domestic plant like Dragon had start their production of ferronickel in Indonesia. The high grade ferronickel price might decrease in the future.The mainstream price of high grade ferronickel remained the same. It was 1010-1035 RMB/Nickel. The price of 201 series stainless steel kept steady. So did the price of low grade ferronickel. It was 3250-3400 RMB/T.

• [Editor:王可]