[ferro-alloys.com]There was some good news about global macroeconomy. It encouraged traders in nickel market. By the end of trading, LME nickel was quoted at 12770 USD/T. It rose up by 105 USD/T. The supply of future nickel was insufficient in domestic market today, and foreign nickel market was in upturn, so the price of future nickel went up largely. Compared with Shanghai future nickel 2008 contract, the discount of Russian nickel was 400-500 RMB/T, and the premium of Jinchuan nickel was 800-900 RMB/T. Jinchuan quoted its electrolytic nickel at 103500 RMB/T. It was 1800 RMB/T lower than the price on last trading day.
The price of some stainless-steel products rebounded, but the price of most products remained the same. So, the ferronickel price remained in the same level. Today, the mainstream price of high-grade ferronickel was 960-965 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.