[ferro-alloys.com]Yesterday, FED chairman Powell said that if U.S economy kept on expanding, FED would not decrease interest rate in the future. The index of U.S dollar went up. Meanwhile,in Indonesia, the average price of 1.7% nickel ore was 14 USD/T. It was lower than the standard price (30 USD/T) set by the government this year. The sales revenue of Philippine nickel ore was less than people’s expectation. By the end of trading, LME nickel was quoted at 15400 USD/T. It was 240 USD/T lower than the price on Tuesday. The trading volume was less in domestic nickel market today. The traders in downstream industry did not purchase goods. So, the future nickel market was stable today.Compared with Shanghai future nickel 1912 contract, the discount of Russian nickel was 2400-2500 RMB/T, and the premium of Jinchuan nickel was 4200-4500 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 129500 RMB/T. It was the same as the price yesterday.
The stainless steel market was still in downturn. The demand for ferronickel was insufficient. So, the ferronickel market was stable today.The mainstream price o f high grade ferronickel was 1110-1140 RMB/Nickel, and the price of low grade ferronickel was 3300-3450 RMB/T.