[ferro-alloys.com]WBMS reported that the oversupply volume of global nickel decreased. It meant that the demand for nickel increased. The market was in upturn. Meanwhile, the index of U.S dollar dropped down. So, LME nickel price rose up. By the end of trading, LME nickel was quoted at 14765 USD/T. It rose up by 150 USD/T. Due to upturn of LME nickel market, the price of future nickel rose up in domestic market. Compared with Shanghai future nickel 2010 contract, the discount of Russian nickel was 250-350 RMB/T, and the premium of Jinchuan nickel was 450-550 RMB/T. Jinchuan quoted its electrolytic nickel at 117200 RMB/T. It was 1200 RMB/T higher than the price on last trading day.
Recently, the stainless-steel market was in upturn, so was the ferronickel market. Today, the ferronickel price rose up again. In Jiangsu, Shandong Provinces, the high-grade ferronickel price reached 1105 RMB/T at most. In Inner Mongolia and Liaoning Province, the price was 1085-1095 RMB/Nickel. The low-grade ferronickel price remained at 3300-3450 RMB/T.