[ferro-alloys.com]On last Friday, people thought that FED would decrease interest in the future. The yield rate of U.S debt went down. By the end of trading, LME nickel was quoted at 11620 USD/T. It was 55 USD/T lower than the price on last Thursday. In the morning, the price of Shanghai future nickel dropped down. People from downstream industry were cautious, Compared with Wuxi 1906 contract, the discount of Russian nickel was zero, the premium of Jinchuan nickel was 1000-1100 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 97500 RMB/T. It was 1200 RMB/T higher than the price yesterday.
The stainless steel market was stable. The 13th production line of Indonesian Dragon has started its production since Mid-May. The 3rd furnace would be put into use by the end of May. Most of new domestic capacities kept on running. The mainstream price of high grade ferronickel rose up a little today. It was 940-950 RMB/Nickel. The price of low grade ferronickel was 3200-3400 RMB/T.