[ferro-alloys.com]On last Friday, U.S dollar index lifted up. Relatively, LME nickel price dropped down. By the end of trading, LME nickel was quoted at 10875 USD/T. It was 85 USD/T lower than the price on last Thursday. The nickel market was in downturn, and trading volume was insufficient. So, the price of Shanghai Future nickel price slumped down in the morning. Compared with Wuxi 1812 contract, the discount of Russian nickel was 100-200 RMB/T, and the premium of Jinchuan nickel was 9900 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 99000 RMB/T. It was 1000 RMB/T higher than the price on last Friday.

Due to downturn of nickel market and insufficient demand, the price of stainless steel kept on declining today. Therfore, high grade ferronickel price went down today. Its mainstream price was 955-970 RMB/Nickel. The price of low grade ferronickel kept steady. The mainstream price was 3500-3600 RMB/T

• [Editor:王可]