[ferro-alloys.com]Yesterday, Indonesia published new mining rules. It permitted melt plants export nickel ore within 3 years. It stimulated global nickel market. The nickel price dropped down largely. By the end of trading, LME nickel was quoted at 12830 USD/T, it dropped down by 205 USD/T. The trading volume was less in domestic market of future nickel. Due to downturn of nickel market, the price of future nickel went down a little. Compared with Shanghai future nickel 2008 contract, the discount of Russian nickel was 400-500 RMB/T, and the premium of Jinchuan nickel was 600-700 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.