[ferro-alloys.com]Yesterday, the index of U.S dollar went up. There was no good news in nickel market. So, the price of LME nickel went down. By he end of trading, LME nickel was quoted at 13700 USD/T. It dropped down by 100 USD/T. Due to downturn of LME nickel market, the price of future nickel dropped down in domestic market. The demand from downstream industry was insufficient, and the trading volume was less. Compared with Shanghai future nickel 2008 contract, the discount of Russian nickel was 300 RMB/T, and the premium of Jinchuan nickel was 300 RMB/T. Jinchuan quoted its electrolytic nickel at 110300 RMB/T. It was the same as 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 960-970 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.