[ferro-alloys.com]The news about ban of nickel ore export in Indonesia affected nickel market this week. It was said that Indonesian govern might quicken the implement of export ban. So, the nickel market was in upturn. By the end of trading, LME nickel was quoted at 15700 USD/T. It was 40 USD/T lower than the price on last Friday.Due to rising of nickel market in general, the price of future nickel rose up today. The trading volume was still less.Compared with Shanghai future nickel 1909 contract, the discount of Russian nickel was 300 RMB/T, and the premium of Jinchuan nickel was 1100-1300 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 124000 RMB/T, it was 5000 RMB/T higher than the price yesterday.
The stainless steel market was in downturn despite upturn of nickel market. The prices of most products went down. The ferronickel price was stable today.The high grade ferronickel was quotd at 1070-1090 RMB/Nickel.The low grade ferronickel was 3050-3250 RMB/T.