[ferro-alloys.com]People predicted that global economic trend would be in downturn. Although LME inventory dropped down, LME nickel price went down. On October 7th, LME nickel was quoted at 17710 USD/T, it was 10 USD/T lower than the price on last trading day. After National Day Holiday, the future nickel price went down a little because of fall of LME nickel price. The trading volume was less.Compared with Shanghai future nickel 1911 contract, the discount of Russian nickel was 0-100 RMB/T, and the premium of Jinchuan nickel was 100-200 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 136500 RMB/T, it was 500 RMB/T lower than the price before the holiday.
Today, the stainless steel market was in upturn. Due to fall of LME inventory, the nickel market went up sharply. So, the ferronickel price lifted up. The high grade ferronickel was quotd at 1210-1250 RMB/Nickel.The low grade ferronickel was 3250-3300 RMB/T.