[ferro-alloys.com]Due to downturn of U.S economy, the index of U.S dollar kept on dropping. Meanwhile, the supply of nickel ore was relatively insufficient. So, the price of LME nickel went up further. Yesterday, LME nickel was quoted at 12480 USD/T. It was 220 USD/T higher than the price on last trading day. Affected by optimistic attitude toward Chinese economy, the domestic market of future nickel kept on rising. However, the trading volume was still less. Compared with Shanghai future nickel 2007 contract, the discount of Russian nickel was from 0 to 100 RMB/T, and the premium of Jinchuan nickel was 1100 RMB/T. Jinchuan quoted its electrolytic nickel at 102900 RMB/T. It was 300 RMB/T higher than the price on last trading day.
The stainless-steel market was stable, so was the ferronickel market. Today, the mainstream price of high-grade ferronickel was 970-990 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.