[ferro-alloys.com]Yesterday, the trader predicted that U.S FED would halt raising interest rate, and U.S ISM index was weak. So, U.S dollar index dropped down. However, oil price rose up due to decreased output by OPEC, and LME nickel price went up a little. By the end of trading, LME nickel was quoted at 11150 USD/T, it was 25 USD/T higher than the price on last trading day. The trading volume was not as large as people’s expection, and its demands was restricted. So, the nickel price did not rise up. Compared with Wuxi 1901 contract, the premium of Russian nickel was zero, and the premium of Jinchuan nickel was 800 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 91500 RMB/T. It was the same as the price yesterday. 

The stainless steel market kept steady. The demand for ferronickel was restricted. Besides, some ferronickel had halted their production, the supply volume was less. So, the ferronickel market kept steady. Today, the price of high grade ferronickel was 925-940 RMB/Nickel, and low grade ferronickel was quoted at 3350-3500 RMB/T.

• [Editor:王可]