[ferro-alloys.com]Due to downturn of downstream industry, LME nickel price was affected yesterday. It dropped down by 145 USD/T. LME nickel was quoted at 15755 USD/T. 300 series stainless-steel market was still in downturn, so was the future nickel 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 4800-5000 RMB/T. Jinchuan quoted its electrolytic nickel at 120000 RMB/T. It was the same as the price on last trading day.
The stainless-steel market was in downturn. So, the ferronickel price was still in lower level. 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.