[ferro-alloys.com]The effect by falling of crude oil price had faded away, and macroeconomy was being better. For example, U.S stock index rebounded. So, the future market was better. By the end of trading, LME nickel was quoted at 14905 USD/T. It dropped down by 25 USD/T. Due to rising of output of Indonesian ferronickel, the future nickel price could not rise up in domestic market. Compared with Shanghai future nickel 2010 contract, the discount of Russian nickel was 200-300 RMB/T, and the premium of Jinchuan nickel was 1500-1700 RMB/T. Jinchuan quoted its electrolytic nickel at 118000 RMB/T. It was the same as the price on last trading day.
The stainless-steel market was in downturn, and Indonesian ferronickel output increased, so the ferronickel price could not rise up in domestic market. 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.