[ferro-alloys.com]Recently, an earthquake took place in Indonesia, and the floods flooding in some areas. It stimulated the nickel market. Meanwhile, the index of U.S dollar dropped down. So, the nickel price went up largely. By the end of trading, LME nickel was quoted at 13035 USD/T. It rose up by 205 USD/T. Although nickel market was in upturn, the price of future nickel in domestic market rose up a little due to insufficient demand from downstream industry. Compared with Shanghai future nickel 2008 contract, the discount of Russian nickel was 400-500 RMB/T, and the discount of Jinchuan nickel was 400-500 RMB/T. Jinchuan quoted its electrolytic nickel at 103700 RMB/T. It was 100 RMB/T higher than the price on last trading day.
The stainless-steel market was stable, so was the ferronickel market. 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.