[ferro-alloys.com]On September, U.S started to impose 10% tariff on $200 billion Chinese goods. Meanwhile, U.S dollar was in rising trend. Relatively, nickel price dropped down in London Metal Exchange yesterday. By the end of trading, LME nickel was quoted at 12820 USD/T. In domestic market, the tariff rate was not as high as expected, and analysis had predicted the situation. What’s more, Chinese Government had announced to take measure to boost the economy. So, the price of Shanghai Future Nickel rose up today. Compared to Wuxi 1810 contract, the premium of Russian nickel was 300 RMB/T,and the premium of Jinchuan nickel was 6500 RMB/T. Jinchuan quoted its electrolytic nickel at 111800 RMB/T. It was 1300 RMB/T higher than the price on last Friday.

The high grade ferronickel market kept steady. The traders were not positive in the market. Affected by environmental protection inspection, the spot goods were limited in the market. So, high grade ferronickel price was remained at 1060-1075 RMB/Nickel, and the price of low grade ferronickel maintained at 3700-3850 RMB/T. Influenced by rain season in Philippine, CTP mining planed to halt their sail schedule. Besides, Philippine Government planed to close small scale mining fields. These message shock the nickel ore market, and the price lifted up. The transportation fee was also raised. The follow-up influence need to be observed.

• [Editor:王可]