[ferro-alloys.com]Yesterday, U.S FOMC announced that they would maintain current interest rate. U.S FED predicted the interest rate would be remained until the end of 2022. So, LME nickel price rose up. By the end of trading, LME nickel was quoted at 13010 USD/T, it rose up by 100 USD/T. Due to insufficient demand from downstream industry, the trading volume was less in domestic market of future nickel. The good accumulation increased. So, the price of future nickel dropped down. Compared with Shanghai future nickel 2007 contract, the discount of Russian nickel was 300-350 RMB/T, and the premium of Jinchuan nickel was 700-800 RMB/T. Jinchuan quoted its electrolytic nickel at 103600 RMB/T. It was 200 RMB/T lower than the price on last trading day.

The stainless-steel market was in downturn, so the ferronickel was stable. Today, the mainstream price of high-grade ferronickel was 965-975 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.

• [Editor:王可]