[ferro-alloys.com]Yesterday, European Central Bank was in dovish position. Meanwhile, people were worried about recession of German economy, so the index of U.S dollar rose up. By the end of trading, LME nickel was quoted at 12930 USD/T. It was 70 USD/T lower than the price on Monday. Due to lack of spot goods, the price of Shanghai future nickel rose up in general today. Compared with Wuxi 1905 contract, the premium of Russian nickel was 1000 RMB/T, and the premium of Jinchuan nickel was 1800-2000 RMB/T. Today, Jinchuan didn’t adjust its electrolytic nickel. It was quoted at 103200 RMB/T.

Due to downturn of stainless steel market, the prices of main products kept on dropping. So, the ferronickel price was still in lower level. Today, the mainstream price of high grade ferronickel was 1005-1015 RMB/Nickel, and the price of low grade ferronickel was 3200-3400 RMB/T.

• [Editor:王可]