[ferro-alloys.com]The Beige Book published by FED showed that the consumption, manufacture and other industries grew up a little in U.S. A conference summary in October showed that many presidents of reserve banks did not agree to decrease benchmark interest rate. The index of U.S dollar went down. The supply of nickel ore was sufficient, so LME nickel price was kept at lower level. By the end of trading, LME nickel was quoted at 13665 USD/T. Due to fall of LME nickel price, the future nickel kept in lower level in domestic market today. Compared with Shanghai future nickel 2001 contract, the discount of Russian nickel was 1500 RMB/T, and the premium of Jinchuan nickel was 5500-5800 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 113000 RMB/T. It was 3000 RMB/T lower than the price on last Friday.
The stainless steel market was in downturn. The ferronickel price remained in lower level. Today, the mainstream price of high grade ferronickel was 1010-1040 RMB/Nickel. The low grade ferronickel was quoted at 3300-3450 RMB/T.