[ferro-alloys.com]Recently, the inventory of LME nickel kept on increasing. The price went down in general. Yesterday, the inventory decreased a little, and LME nickel was quoted at 12490 USD/T. It was 35 USD/T lower than the price on last trading day. The trading volume was almost the same as the volume yesterday in domestic market of future nickel. Most traders quoted good by 2004 contract. Due to fall of LME nickel price, the price of future nickel dropped down. Today, compared with Shanghai future nickel 2004 contract, the discount of Russian nickel was from 350 to 450 RMB/T, and the premium of Jinchuan nickel was 1400-1600 RMB/T. Jinchuan quoted its electrolytic nickel at 102000 RMB/T. It was 800 RMB/T lower than the price yesterday.

The stainless-steel market was in downturn. The ferronickel market was still in lower level. Today, the price of high-grade ferronickel was 895-925 RMB/Nickel, and the price of low grade ferronickel was 3300-3450 RMB/T.

• [Editor:王可]