[ferro-alloys.com]Yesterday, the price of crude oil rebounded. Besides, the earthquake in Indonesia stimulated the nickel market. LME nickel price rose up. By the end of trading, LME nickel was quoted at 12830 USD/T. It rose up by 90 USD/T. Due to earthquake, the domestic market of future nickel went up. However, the trading volume was still less. Compared with Shanghai future nickel 2007 contract, the discount of Russian nickel was 200-250 RMB/T, and the premium of Jinchuan nickel was 800-900 RMB/T. Jinchuan quoted its electrolytic nickel at 103600 RMB/T. It was 2100 RMB/T higher than the price on last trading day.
The stainless-steel market was in downturn, and the ferronickel market was stable. Today, the mainstream price of high-grade ferronickel was 965-975 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.