[ferro-alloys.com]Last week, due to downturn of Shanghai future nickel market and fall of crude oil price, LME nickel price dropped down. By the end of trading, LME nickel was quoted at 12730 USD/T. It dropped down by 165 USD/T. The supply of future nickel was sufficient in domestic market. However, the traders were not positive in the market. So, the price of future nickel went down. Compared with Shanghai future nickel 2008 contract, the discount of Russian nickel was 500 RMB/T, and the premium of Jinchuan nickel was 500-600 RMB/T. Jinchuan quoted its electrolytic nickel at 102800 RMB/T. It was 400 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 965-975 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.

• [Editor:王可]