[ferro-alloys.com]Yesterday, a U.S FED senior official made a hawkish speech. It raised U.S index. Meanwhile, the effect of the good news that Sino-U.S trade tension was released had been faded away. So, LME nickel price dropped down yesterday. By the end of trading, LME nickel was quoted at 11130 USD/T. It was 65 USD/T lower than the price on last trading day. The supply-demand level was low in domestic nickel market.Both Shanghai future price and Jinchuan nickel price fell down. So did the Jinchuan electrolytic nickel price. Compared with Wuxi 1812 contract, the discount of Russian nickel was 200-250 RMB/T, and the premium of Jinchuan nickel was 8000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 98000 RMB/T. It was 1000 RMB/T lower than the price yesterday.
The domestic stainless steel market was in downturn. The supply-demand level was lower. The prices of some stainless steel products dropped down. Meanwhile, some steel plant will halt their production for overhaul in this month. The demand for ferronickel was insufficient. The ferronickel market kept steady today. The price of high grade ferronickel maintained at 940-960 RMB/Nickel, and the low grade ferronickel was quoted at 3500-3600 RMB/T