[ferro-alloys.com]FED Confence summary would be published soon. Recently, senior officials made some relatively dovish speeches. It affected U.S dollar. Yesterday, U.S dollar went down. Meanwhile, people were optimistic about China-U.S negotiation. LME nickel price rose up by 200 USD/T yesterday. It was quoted at 12665 USD/T. The traders were positive in domestic market of future nickel today. Besides, due to lifting of LME nickel price, the price of domestic future nickel went up largely. Compared with Wuxi 1903 contract, the discount of Russian nickel was zero, and the premium of Jinchuan nickel was 300 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 100800 RMB/T. It was 1000 RMB/T higher than the price yesterday.

The stainless steel market was steady in general. The increasing rate of ferronickel capacity was not as fast as people’s expect. It was in rainy season in South Asia, the supply of nickel ore decreased. So, the ferronickel price remained the same today. The high grade ferronickel was quoted at 980-1010 RMB/Nickel, and low grade ferronickel was quoted at 3250-3450 RMB/T.

• [Editor:王可]