[ferro-alloys.com]IMF reduced the forecast of economic growth this year. So, the index of U.S dollar went down. Relatively, LME nickel price went up. By the end of trading, LME nickel was quoted at 13235 USD/T. It was 35 USD/T higher than the price on Monday. Today,the trading volume of future nickel was less than the volume yesterday. Due to rising of LME nickel price, the price of future nickel went up today. Compared with Wuxi 1904 contract, the premium of Russian nickel was 350-400 RMB/T, and the premium of Jinchuan nickel was 1000-1100 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 103800 RMB/T. It was 500 RMB/T higher than the price yesterday.
The stainless steel market was still in downturn. The price of some products dropped down. So, the price of ferronickel could not rise up recently. The ferronickel market kept steady today. The mainstream price of high grade ferronickel was 1015-1025 RMB/Nickel, and the price of low grade ferronickel was 3200-3400 RMB/T.