[ferro-alloys.com]On last Friday, U.S president Donald Trump announced that U.S would impose tariff on Turkish steel and aluminum. Meanwhile, the Turkish lira crashed against US dollors, and the global market got shocked. So, the LME nickel price dropped. By the end of trading, the LME nickel was quoted at 13805 USD/T. It was 75 USD/T lower than the price on last Thursday. Influenced by the LME nickel price trend. the prices of future nickel in most of the contracts declined in Shanghai Future Exchange in the morning.Compared to Wuxi 1809 contract, the premium of Russian nickel was 100 RMB/T, and the premium of Jinchuan nickel was 1500 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 114500 RMB/T. It was 500 lower than 500 RMB/T.

Influenced by declining of LME nickel price, parts of stainless steel products prices went down in the market. The exchange amount was in lower level. The output of ferronickel was resuming, the supply of ferronickel was restricted. Both supply and demand were in lower levels. So the ferronickel prices kept steady. Today, high grade ferronickel was quoted at 1065-1095 RMB/T, and low grade ferronickel price remained at 3250-3350 RMB/T.

• [Editor:王可]