[ferro-alloys.com]Yesterday, it was said that OPEC would extend deadline of output reduction. Meanwhile, the stock of crude oil in U.S decreased. So, the oil price went up. People were worried about global economic growth, so the index of U.S dollar went down. Bye the end of trading, LME nickel was quoted at 13010 USD/T. It was 75 USD/T higher than the price on last Friday. The traders were relatively positive in the market. Besides, LME nickel price went up. So, the price of Shanghai future nickel lifted up. Compared with Wuxi 1904 contract, the premium of Russian nickel was 2700 RMB/T, and the premium of Jinchuan nickel was 3200-3400 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 104500 RMB/T. It was 1000 RMB/T higher than the price yesterday.

Due to rising of LME nickel price, the price of 304 series stainless steel went up. So, the mainstream price of high grade ferronickel went back to 1040-1055 RMB/Nickel. The price of low grade ferronickel kept steady. It was quoted at 3250-3450 RMB/T.

• [Editor:王可]