[ferro-alloys.com]Some economic data of U.S was higher than people’s expection, and so was the Chinese economic data. It encouraged people in the market. The index of U.S dollar fell down. Meanwhile, oil price was kept in higher level. These factors made nickel price risen up yesterday. By the end of trading, LME nickel was quoted at 13200 RMB/T. It was 140 USD/T higher than the price on last Friday. It was said that a large amount of imported nickel might be put into the market this week. The supply of spot goods would not be insufficient. So, the price of Shanghai future nickel went down today.Compared with Wuxi 1904 contract, the premium of Russian nickel was 300-350 RMB/T, and the premium of Jinchuan nickel was 1000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 103300 RMB/T. It was 300 RMB/T lower than the price yesterday.
Although LME nickel price rose up, the stainless steel market was not in upturn.The market was steady in general. So, the price of ferronickel was stable today. The mainstream price of high grade ferronickel was 1015-1025 RMB/Nickel, and low grade ferronickel price was 3200-3400 RMB/T.