[ferro-alloys.com]The trade tension between China and U.S was escalating. The index of U.S stocks dropped down largely, and the index of U.S dollar went down. Relatively, LME nickel price went up largely. By the end of trading, LME nickel was quoted at 14860 USD/T. It was 375 USD/T higher the price on last Friday. Due to RMB devaluation and message about ban of Indonesian nickel ore export, the price of future nickel rose up largely this week. The trading volume was still less, and merchants kept their goods in the market. Compared with Shanghai future nickel 1909 contract, the discount of Russian nickel was 300 RMB/T, and the premium of Jinchuan nickel was 1300-1400 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 119100 RMB/T. It was 100 RMB/T higher than the price.

Due to rising of LME nickel price, the price of stainless steel went on rising. As more and more ferronickel capacities starts to be put into productions, the supply will be increased in the future. However, the inventory of these plants are insufficient. They keep their goods for maintaining the price. Today, the mainstream price of high grade ferronickel is 1050-1080 RMB/Nickel, it’s higher than the price yesterday. The low grade ferronickel price remains at 3050-3250 RMB/T.

• [Editor:王可]