[ferro-alloys.com]Yesterday, US FED published brown paper.Its content was good for U.S dollar market. However, the situation of Sino-U.S trade tension was uncertain, the market trend went up and down in general. By the end of trading, LME nickel was quoted at 11220 USD/T.It was 90 USD/T higher than the price on last trading day. The supply-demand level in domestic nickel market was still low.Only few deals has been made. Both the price of Jinchuan nickel and Russian nickel price dropped down. So did the price of Shanghai future nickel. Compared with Wuxi 1812 contract, the discount of Russian nickel was 200-250 RMB/T, and the premium of Jinchuan nickel was 7300 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 97500 RMB/T. It was 500 RMB/T lower than the price yesterday.
The stainless steel was in downturn. The prices of some stainless steel products fell down. Due to low supply-demand level, the ferronickel market kept steady today. High grade ferronickel was quoted at 940-960 RMB/Nickel, and low grade ferronickel maintained at 3500-3600 RMB/T.