[ferro-alloys.com]At present, except U.S dollar, the indexes of other currencies dropped down. Due to Brexit without deal and weak European economic situation, Euro index fell down. People were focusing on Sino-U.S negotiation, but there was no good news. The price of metal fell down including nickel. By the end of trading, LME nickel was quoted at 12470 USD/T, it was 105 USD/T lower than the price on last trading day. The downstream firms did not resume purchasing goods in the market due to Spring Festival. So, the price of domestic future nickel fell down following the fall of LME nickel price. Compared with Wuxi 1903 contract, the discount of Russian nickel was 100-200 RMB/T, and the premium of Jinchuan nickel was 500 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 99600 RMB/T, it was 2100 RMB/T lower than the price yesterday.
The price of 304 series stainless steel kept on rising today. Due to fall of nickel price in general, the high grade ferronickel price did not rise up today. The ferronickel market kept steady. The mainstream price of high grade ferronickel was 975-995 RMB/Nickel, and the low grade ferronickel price remained at 3250-3450 RMB/T