[ferro-alloys.com]On last Friday, it was said that China would negotiate with U.S further. It encouraged future market including nickel future market. Meanwhile, the declining of nickel stock in London Metal Exchange stimulated rising of nickel price. By the end of trading, LME nickel was quoted at 11460 USD/T. It was 230 USD/T higher than the price on last Thursday. Due to rising of LME nickel price and declining of domestic inventory, the future nickel price rose up largely. Compared with Wuxi 1902 contract, the discount of Russian nickel was 100 RMB/T, and the premium of Jinchuan nickel was 700-800 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 92500 RMB/T. It was 1000 RMB/T higher than the price on last Friday.

At present, the stainless steel market kept steady. Some large steel plants announced their purchase price of high grade ferronickel. They were both higher than the price in last period.The final purchase price of Tsingshan was 970 RMB/Nickel. It was 10 RMB/Nickel higher than the inquiry price. Meanwhile, encouraged by rising of nickel in general, high grade ferronickel price lifted up again. The mainstream price was 940-955 RMB/Nickel. The low grade ferronickel price kept steady. Its mainstream price was 3350-3500 RMB/T.

• [Editor:王可]