[ferro-alloys.com]At present, people are focusing on Powell’s report about currency policy in House of Representatives in this week. Yesterday, LME nickel was quoted at 12750 USD/T, it was 40 USD/T higher than the price on Monday.Today, the trading volume of future nickel was extremely less in the market. The price of future nickel rose up largely. Compared with Shanghai nickel 1908 contract, the discount of Russian nickel was 400 RMB/T, and the premium of Jinchuan nickel was 1400-1500 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 103500 RMB/T. It was 2500 RMB/T higher than the price yesterday.
The stainless steel market kept steady. The ferronickel firms were producing the ferronickel as required. The output was relatively stable. It was said that Philippine Government would start second round mining examination. It might affected mining industry and its relevant downstream industries. Today, the mainstream price of high grade ferronickel was 950-970 RMB/Nickel, and the price of low grade ferronickel was 3050-3250 RMB/T.