[ferro-alloys.com]On Tuesday, the index of U.S dollar dropped down, so did the yield of U.S Public Loan. An official from FED did not support decreasing interest further. By the end of trading, LME nickel was quoted at 15805 USD/T. It was 145 USD/T lower than the price on Monday.Today, the trading volume of future nickel increased, and the price of future nickel dropped down due to fall of LME nickel price. Compared with Shanghai future nickel 1909 contract, the discount of Russian nickel was 300 RMB/T, and the premium of Jinchuan nickel was 900-1000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 124100 RMB/T, it was 900 RMB/T lower than the price yesterday.
The stainless steel market was in downturn. The prices of some products dropped down. Although the nickel ore price rose up, the ferronickel price was stable due to downturn of downstream market. he high grade ferronickel was quotd at 1090-1100 RMB/Nickel.The low grade ferronickel was 3050-3250 RMB/T.