[ferro-alloys.com]The inventory of ETA crude oil decreased. So, people felt relatively optimistic toward the economy. Besides, the supply of nickel ore was relatively insufficient. So, by the end of trading, LME nickel was quoted at 12710 USD/T. It rose up by 230 USD/T. Due to rising trend of LME nickel price, the domestic market of future nickel kept on rising. Compared with Shanghai future nickel 2007 contract, the discount of Russian nickel was from 50 to 150 RMB/T, and the premium of Jinchuan nickel was 900-1100 RMB/T. Jinchuan quoted its electrolytic nickel at 105400 RMB/T. It was 2500 RMB/T higher than the price on last trading day.
The stainless-steel market was relatively stable, but the traders were cautious in the market. So, the ferronickel market was steady. 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.