[ferro-alloys.com]Yesterday, the positive effect of output reduction had faded away, the crude oil price dropped down, but it rebounded later. Meanwhile, the index of U.S dollar kept on dropping. So, the price of LME nickel went up. By the end of trading, LME nickel was quoted at 13070 USD/T. It rose up by 155 USD/T. The trading volume was less in domestic market. However, due to rising trend of LME nickel price, the price of future nickel rose up. Compared with Shanghai future nickel 2007 contract, the discount of Russian nickel was 300 RMB/T, and the premium of Jinchuan nickel was 800-900 RMB/T. Jinchuan quoted its electrolytic nickel at 105000 RMB/T. It was 800 RMB/T higher than the price on last trading day.

The stainless-steel market was stable today, so was the ferronickel market. Today, the mainstream price of high-grade ferronickel was 960-980 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.

• [Editor:王可]