[ferro-alloys.com]On last Friday, the decreasing volume of European industrial output was less than expection in February. The index of Euro rose up. Relatively, the index of U.S dollar dropped down. So, the prices of metal lifted up. By the end of trading, LME nickel was quoted at 13020 USD/T. It was 50 USD/T higher than the price on last Thursday. The supply of future nickel was insufficient in Shanghai today. The trading volume was less. Due to rising of LME nickel price, the price of future nickel rose up today. Compared with Wuxi 1905 contract, the premium of Russian nickel was 700 RMB/T, and the premium of Jinchuan nickel was 1600 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 102800 RMB/T. It was 800 RMB/T higher than the price on last Friday.
The stainless steel market kept steady today, so did the ferronickel market. The price of high grade ferronickel was maintained at 1010-1020 RMB/Nickel, and the price of low grade ferronickel was 3200-3400 RMB/T.