[ferro-alloys.com]The ADP employment quantity was not as much as people’s expection in U.S in October. China- U.S trade negotiation was turning into worse trend. So, people were negative with trade forecast. Global future nickel market was affected, its price went down further.Yesterday, LME nickel was quoted at 13140 USD/T. It was 22 USD/T lower than the price on Tuesday.The trading volume was still less in domestic nickel market. Due to fall of LME nickel price, the future nickel price dropped down .Compared with Shanghai future nickel 2001 contract, the discount of Russian nickel was 1500-1700 RMB/T, and the premium of Jinchuan nickel was 5000-5300 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 110000 RMB/T. It was the same as the price yesterday.
By the end of this year, the stainless steel market was in downturn. Besides, global nickel market kept on dropping. So, the ferronickel price went down further. Today, the price of high grade ferronickel dropped down again. It was quoted at 960-980 RMB/Nickel. The mainstream price of low grade ferronickel was 3300-3450 RMB/T.