[ferro-alloys.com]Yesterday, Euro and British Pound rose up. Relatively, U.S dollar went down from the highest level in the last 16 month. However, nickel supply-demand level was lower than other metal, the LME nickel price dropped down yesterday. By the end of trading, LME nickel was quoted at 11325 USD/T. It was 20 USD/T lower than the price on Monday.Due to declining of LME nickel, Shanghai Future nickel price kept on dropping,. Compared to Wuxi 1812 contract, the premium of Russian nickel was 100 RMB/T, and the premium of Jinchuan nickel was 10500 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 105000 RMB/T. It was the same as the price yesterday.

The stainless steel market was still in downturn. Only few deals had been completed. Influenced by downturn of general nickel market, the high grade ferronickel price dropped down again today. In Inner Mongolia, the price was 1005-1025 RMB/Nickel. In Jiangsu, Liaoning, Shandong Provinces and other places, the high grade ferronickel price was 1010-1030 RMB/Nickel. The low grade ferronickel price kept steady today. The mainstream price remained at 3550-3650 RMB/T.

• [Editor:王可]