[ferro-alloys.com]On last Friday, Vice Premier Liu He went to U.S to make 11th round trade negotiation.He said the trade talk did not fail. Then, the index of U.S stock stopped dropping and went back. By the end of trading, LME nickel was quoted at 11960 USD/T on last Friday. It was 145 USD/T higher than the price on last trading day. In the morning, the trading volume of Shanghai future nickel was more than the volume last week, but it was still at low level. The price fell down all the time. Compared with Wuxi 1905 contract, the premium of Russian nickel was 300-350 RMB/T, and the premium of Jinchuan nickel was 3100-3200 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 99000 RMB/T. It was 300 RMB/T lower than the price on last Friday.
At present, the steel market was in downturn. The traders were not eager to purchase high grade ferronickel. The new capacities from China and Indonesia is increasing. These capacities might be released in the future. Then, the ferronickel might be shocked. At present, the ferronickel market kept steady. The mainstream price of high grade ferronickel was 945-955 RMB/Nickel, and the price of low grade ferronickel was 3200-3400 RMB/T