[ferro-alloys.com]Yesterday, U.S index went up. U.S might impose sanction on Iran and Venezuela. So, the oil price rose up to the highest level since 2019. By the end of trading, LME nickel was quoted at 13165 USD/T. It was 50 USD/T higher than the price on Monday.The trading volume was not as large as people’s expection in Shanghai future nickel market today.However, LME nickel price went up, so did the price of Shanghai future nickel. Compared with Wuxi 1904 contract, the premium of Russian nickel was 300 RMB/T, and the premium of Jinchuan nickel was 1100 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 103500 RMB/T. It was 300 RMB/T higher than the price yesterday.

Although LME nickel market was in good condition, the stainless steel market was in downturn. The prices of some products dropped down. Recently,some industrial accidents occured, and some relevant agency started to carry out safety inspection in some regions. It affected manufacture’s production. Both parties didn’t try to make deals in the market. So, the price of ferronickel was kept steady today. The mainstream price of high grade ferronickel was 1015-1025 RMB/Nickel, and the price of low grade ferronickel was 3200-3400 RMB/T.

• [Editor:王可]