[ferro-alloys.com]U.S stock index kept on dropping on three days. It affected financial market. U.S crude oil price dropped down. Meanwhile, trade negotiation between Britain and Europe did not make progress. It affected macroeconomy. LME nickel price dropped down. By the end of trading, LME nickel was quoted at 14930 USD/T. It dropped down by 270 USD/T. Due to LME nickel price trend, the price of future nickel went down 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 1500-1600 RMB/T. Jinchuan quoted its electrolytic nickel at 118000 RMB/T. It was 2200 RMB/T lower than the price on last trading day.
Although the stainless-steel market was in downturn, the ferronickel price went up due to rising of nickel ore price. In Jiangsu, Shandong Provinces, the high-grade ferronickel price reached 1185 RMB/T at most. In Inner Mongolia and Liaoning Province, the price was 1165-1185 RMB/Nickel. The low-grade ferronickel price remained at 3300-3450 RMB/T.