[ferro-alloys.com]Yesterday, FED chairman Powell made a speech. After his speech, the possibility of decreasing interest was increased. The index of U.S dollar went down. Meanwhile, China-U.S trade negotiation made a good progress, U.S stock index rose up. By the end of trading, LME nickel was quoted at 13015 USD/T. It was 265 USD/T higher than the price on Tuesday. Today, the trading volume of future nickel was still less. The price of future nickel went up a little. Compared with Shanghai future nickel 1908 contract, the discount of Russian nickel was 400-500 RMB/T, and the premium of Jinchuan nickel was 1400-1500 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 103800 RMB/T. It was 300 RMB/T higher than the price yesterday.
Due to rising of LME nickel price, the prices of stainless steel products rose up in general. Relatively, the price of ferronickel went up. Today, the mainstream price of high grade ferronickel was 950-985 RMB/Nickel, and the price of low grade ferronickel was 3050-3250 RMB/T.