[ferro-alloys.com]The members from FED were relatively optimistic with future U.S economy, the index of U.S dollar reached the highest level. LME nickel used to fall down. However, LME nickel price rebounded later. Yesterday, LME nickel was quoted at 13155 USD/T. It was 35 USD/T higher than the price on last trading day. The delivery date was coming soon, and the supply was decreasing. So, the trading volume was less in domestic market of future nickel. Today, compared with Shanghai future nickel 2003 contract, the discount of Russian nickel was from -100 to 100 RMB/T, and the premium of Jinchuan nickel was 700-1000 RMB/T. Jinchuan quoted its electrolytic nickel at 106000 RMB/T. It was 500 RMB/T lower than the price yesterday.
The stainless-steel market was still in downturn. The demand for ferronickel was still insufficient. So, the ferronickel price remained in lower level. Today, the price of high-grade ferronickel was 960-970 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.