[ferro-alloys.com]Yestereday, FED stressed that they would not increase interest rate. So, the index of U.S dollar dropped down. The prices of most ferrous metals dropped down yesterday. By the end of trading, LME nickel was quoted at 13180 USD/T. It was 55 USD/T lower than the price on Tuesday. The downstream industry was in downturn, so the trading volume of future nickel was less. Besides, due to fall of LME nickel price, the price of future nickel went down. Compared with Wuxi 1904 contract, the premium of Russian nickel was 350 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 the same as the price yesterday.
The stainless steel market was in downturn. The price of most products dropped down. So, the purchase volume by large steel plant was less. The purchase price by ZPSS was 1010 RMB/Nickel. It was the same as the price last week. 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.