[ferro-alloys.com]On last Friday, U.S FED chairman Powell made a speech whose tone was dovish. It released the panic emotions of traders in the market. U.S dollar went down. Relatively, LME nickel price went up. By the end of trading, LME nickel was quoted at 11125 USD/T, it was 245 USD/T higher than the price on Thursday.Due to rising of LME nickel price, the trading volume rose up in general today, and demands increased. Both Shanghai future nickel price and Russian nickel price rose up, and so did the price of Jinchuan nickel. Compared with Wuxi 1901 contract, the premium of Russian nickel was zero, and the premium of Jinchuan nickel was 1000 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 91500 RMB/T. It was 1700 RMB/T higher than the price on last Friday.

Some stainless steel prices rose up today. However, it was in downturn of stainless steel manufacture, the demand for ferronickel was restricted. Meanwhile, some ferronickel plants halted their production. So, the supply of ferronickel was restricted,too. The ferronickel market kept steady today. High grade ferronickel was quoted at 925-940 RMB/Nickel, and the price of low grade ferronickel remained at 3350-3500 RMB/T.

• [Editor:王可]