[ferro-alloys.com]The index of U.S non-agricultural employment was not as good as people’s expectation. U.S FED Chairman said that low interest policy would be good for U.S economic development. So, people thought that FED would decrease interest in September. The index of U.S dollar rose up a little. By the end of trading, LME nickel was quoted at 17940 USD/T. It was 445 USD/T higher than the price on last Thursday. The future nickel price went down in general, the demand for spot good increased a little. The price of future nickel went down. Compared with Shanghai future nickel 1910 contract, the discount of Russian nickel was 100 RMB/T, and the premium of Jinchuan nickel was 300-400 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 141200 RMB/T, it was 1800 RMB/T lower than the price on last Friday.
The price of some product went down in stainless steel market. The ferronickel price was restricted by large steel plants. So, the ferronickel market was stable today.The high grade ferronickel was quotd at 1150-1170 RMB/Nickel.The low grade ferronickel was 3250-3300 RMB/T.