[ferro-alloys.com]U.S macroeconomy was better than people’s expectation, and Russia had developed a COVID-19 vaccine, people felt optimistic in the market. Besides, the pandemic was being more and more serious in Philippine, the nickel ore export was affected. LME nickel price rose up. By the end of trading, LME nickel was quoted at 14330 USD/T. It rose up by 110 USD/T. The trading volume increased in domestic market of future nickel today. So, the price of future nickel fell down. Compared with Shanghai future nickel 2009 contract, the discount of Russian nickel was 50-150 RMB/T, and the premium of Jinchuan nickel was 400-600 RMB/T. Jinchuan quoted its electrolytic nickel at 113600 RMB/T. It was 2100 RMB/T lower than the price on last trading day.
The stainless-steel market was in downturn today. So, the ferronickel price could not rise up today. It remained stable. In Jiangsu and Shandong Provinces, the high-grade ferronickel price was 1000-1020 RMB/Nickel. In Inner Mongolia and Liaoning Province, the price was 1000-1010 RMB/Nickel. The low-grade ferronickel price remained at 3300-3450 RMB/T.