[ferro-alloys.com]People did not feel optimistic with U.S economy, the index of U.S dollar went down. Relatively, LME nickel rose up a little. It was quoted at 15900 USD/T. It rose up by 10 USD/T. Due to downturn of stainless-steel market, the future nickel market was in downturn in domestic market. Compared with Shanghai future nickel 2012 contract, the discount of Russian nickel was from -50 to 50 RMB/T, and the premium of Jinchuan nickel was 5000-5200 RMB/T. Jinchuan quoted its electrolytic nickel at 120000 RMB/T. It was 1000 lower than the price on last trading day.
The stainless-steel market went down. The ferronickel price was affected. It dropped down largely. In Shandong Provinces, the high-grade ferronickel price was 1060-1080 RMB/T at most. In Jiangsu and Liaoning Provinces, the price was 1050-1070 RMB/Nickel. In Inner Mongolia, the price was 1050-1060 RMB/Nickel. The low-grade ferronickel price remained at 3300-3400 RMB/T.