[ferro-alloys.com]U.S sales of retail business dropped down yesterday, and trade tension continued. So, the index of U.S dollar dropped down. Relatively, LME nickel price went down. By the end of trading, LME nickel was quoted at 12140 USD/T. It was 210 USD/T lower than the price on Tuesday. Due to rising of LME nickel price, the price of Shanghai future nickel rose up in the morning. The trading volume was still less. Compared with Wuxi 1906 contract, the premium of Russian nickel was 350 RMB/T, and the premium of Jinchuan nickel was 2500-2600 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 99900 RMB/T. It was 500 RMB/T higher than the price yesterday.
The stainless steel market kept steady, so did the ferronickel market. Today, the mainstream price of Jinchuan nickel was 945-955 RMB/Nickel, and the price of low grade ferronickel was 3200-3400 RMB/T.