[ferro-alloys.com]U.S stock index dropped down, so metal market was affected. LME nickel price went down. It was quoted at 15650 USD/T yesterday, and it dropped down by 35 USD/T. The trading volume was less in domestic market of future nickel, and the price dropped down. Compared with Shanghai future nickel 2012 contract, the discount of Russian nickel was 200-400 RMB/T, and the premium of Jinchuan nickel was 1900-2000 RMB/T. Jinchuan quoted its electrolytic nickel at 121000 RMB/T. It was 1200 USD/T lower than the price on last trading day.
The stainless-steel price was relatively stable, the ferronickel price kept steady. 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.