[ferro-alloys.com]Yesterday, U.S started to implement quantitative easing monetary policy. The price of staple commodity rose up largely. So, the price of LME nickel went up. Yesterday, LME nickel was quoted at 11280 USD/T. It was 365 USD/T higher than the price on last trading day. The domestic market of future nickel was in downturn despite the rising of LME nickel price. The trading volume was less. Today, compared with Shanghai future nickel 2004 contract, the premium of Russian nickel was from 150 to 250 RMB/T, and the premium of Jinchuan nickel was 1800-2000 RMB/T. Jinchuan quoted its electrolytic nickel at 93500 RMB/T. It was 1000 RMB/T lower than the price on last trading day.
The stainless steel market was in downturn, so was the ferronickel market. Today, the price of high-grade was 880-890 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.