[ferro-alloys.com]Due to dam collapse in Vale, the traders worried the nickel supply in the future.Today, U.S trade delegation came to China for new round Sino-U.S negotiation. People worried about global economic shutdown, and bought U.S dollar to avoid risks. The index of U.S dollar went up. So, LME nickel price rose up in general. On February 8th, LME nickel was quoted at 12575 USD/T. Due to rising of LME nickel price, the domestic future nickel price rose up largely. Compared with Wuxi 1902 contract, the premium of Russian nickel was 50 RMB/T. Compared with 1903 contract, the discount of Russian nickel was 200 RMB/T. Compared with Wuxi 1903 contract, the premium of Jinchuan nickel was 500-600 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 101700 RMB/T. It was 3200 RMB/T higher than the price before Spring Festival.
Due to rising of nickel market, the price of some 304 series stainless steel lifted up, and so did the high grade ferronickel price. Today, the mainstream price of high grade ferronickel was 975-995 RMB/Nickel. The low grade ferronickel price remained at 3250-3450 RMB/T.