[ferro-alloys.com]U.S published a beige book on November 28th. It said that U.S economy were expanding steadily,its growth forecast was optimistic. The index of U.S dollar went up,so did the index of U.S stock. By the end of trading,LME nickel price was quoted at 14360 USD/T. It was 195 USD/T lower than the price on Tuesday.The demand for future nickel from downstream industry was insufficient, so the domestic nickel market was in downturn. Compared with Shanghai future nickel 1912 contract, the discount of Russian nickel was 900-1100 RMB/T, and the premium of Jinchuan nickel was 5800-6000 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 118700 RMB/T. It was 1800 RMB/T lower than the price yesterday.
The stainless steel market was still in downturn, so was the ferronickel market.The mainstream price of high grade ferronickel was 1020-1040 RMB/Nickel. The low grade ferronickel was quoted at 3300-3450 RMB/T.