[ferro-alloys.com]On last Friday, U.S dollar trend went strong. U.S President Trump announced that U.S would impose tariff on Chinese goods. The traders were in panic in the market. The nickel price dropped down largely in London Metal Exchange. By the end of trading, LME nickel was quoted at 12415 USD/T. It was 180 USD/T lower than the price on Thursday. In domestic market, LME nickel price went down, and a large amount of Russian nickel flew into the market. So, Shanghai Future nickel price dropped down largely. Compared to Wuxi 1810 contract, the premium of Russian nickel was 300 RMB/T, and the premium of Jinchuan nickel was 6200 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 108400 RMB/T. It was 1400 RMB/T lower than the price on last Friday.

Due to the Typhoon Mangkhut, Southern steel plants halted their productions. There was little demand for ferronickel. Meanwhile, the declining of nickel price affected the high grade ferronickel price. Today, it was quoted at 1040-1060 RMB/Nickel. Today, the price of 201 series stainless steel went up, so did the price of low grade ferronickel. It was quoted at 3700-3850 RMB/T.

• [Editor:王可]