[ferro-alloys.com]Yesterday, the LME nickel price went up and down. By the end of trading, LME nickel was quoted at 13580 USD/T. It was 20 USD/T higher than the price on last trading day. In early Thursday Beijing time, the Federal Reserve announced its summary in August. In the summary, FED stressed that U.S economy kept on going strongly. Meanwhile, U.S started imposing their  25% tariff on $16 billion dollar Chinese imported good. These message shocked the future nickel market in Shanghai. The prices in all contracts declined largely. Compared to Wuxi 1809 contract, the premium of Russian nickel was 50 RMB/T, and the premium of Jinchuan nickel was 1800 RMB/T. Jinchuan quoted its electrolytic nickel at 112300 RMB/T today. It was 1200 RMB/T lower than the price yesterday.

In this week, parts of steel plants entered into the market for ferronickel bidding,the demand for ferronickel increased in the market. However, the second round environmental protection inspection started. Now, the governmental inspection group members have been in Jiangsu Province. The traders worried for the restriction of ferronickel output, so they kept their goods and maintained the price. The market kept steady today. The high grade ferronickel price was 1085-1100 RMB/Nickel in Inner Mongolia. In Jiangsu, Liaoning and Shandong Provinces, the high grade ferronickel was quoted at 1090-1110 RMB/Nickel. The price of low grade ferronickel was quoted at 3250-3350 RMB/T

• [Editor:王可]