[ferro-alloys.com]U.S FED predicted that the economy might not reach people’s expectation. It shocked the global economy. The index of U.S stock fell down. Meanwhile, it affected nickel market. By the end of trading, LME nickel was quoted at 14635 USD/T. It fell down by 110 USD/T. Due to fall of global nickel market, the future nickel market was in downturn in domestic market today. Compared with Shanghai future nickel 2010 contract, the discount of Russian nickel was 300-350 RMB/T, and the premium of Jinchuan nickel was 300 RMB/T. Jinchuan quoted its electrolytic nickel at 116000 RMB/T. It was 500 RMB/T higher than the price on last trading day.
The stainless-steel market was in upturn, so was the nickel market. So, the ferronickel price rose up. In Jiangsu, Shandong Provinces, the high-grade ferronickel price reached 1100 RMB/T at most. In Inner Mongolia and Liaoning Province, the price was 1080-1090 RMB/Nickel. The low-grade ferronickel price remained at 3300-3450 RMB/T.