[ferro-alloys.com]U.S economic stimulation plan did not make any progress. The index of U.S dollar went down. Relatively, LME nickel price went up. By the end of trading, LME nickel was quoted at 15520 USD/T. It rose up by 480 USD/T. Due to the accident in Jinchuan plant, the nickel output decreased. So, the future nickel price rose up largely in domestic market. Compared with Shanghai future nickel 2011 contract, the discount of Russian nickel was 200-250 RMB/T, and the premium of Jinchuan nickel was 2000-2100 RMB/T. Jinchuan quoted its electrolytic nickel at 119200 RMB/T. It was 1400 USD/T higher than the price on last trading day.
The stainless-steel price rose up a little. Due to upturn of domestic nickel market, the ferronickel price rose up a little. In Jiangsu, Shandong Provinces, the high-grade ferronickel price reached 1180 RMB/T at most. In Inner Mongolia and Liaoning Province, the price was 1170-1180 RMB/Nickel. The low-grade ferronickel price remained at 3300-3450 RMB/T.