[ferro-alloys.com]All parties did not reach an agreement in OPEC conference. So, Saudi Arabia started to cut down its crude oil price. So, the global oil price was affected. Furthermore, both the index of U.S dollar and the index of global stock dropped down largely. People felt shocked in global market. By the end of trading, LME nickel was quoted at 12835 USD/T. It was 60 USD/T lower than the price on last trading day. The trading volume increased in domestic market of future nickel. However, due to fall of LME nickel price, the price of future nickel went down largely. Today, compared with Shanghai future nickel 2004 contract, the discount of Russian nickel was from 0 to 200 RMB/T, and the premium of Jinchuan nickel was 1500-1700 RMB/T. Jinchuan quoted its electrolytic nickel at 101000 RMB/T. It was 2800 RMB/T lower than the price on last Friday.

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]