[ferro-alloys.com]Yesterday, U.S CPI did not reach people’s expection. So, U.S index went down. However, the conversation between two initiators of China-U.S trade negotiation raised traders’confidence. Meanwhile, due to insufficient supply, the oil price went up a little. By the end of trading, LME nickel was quoted at 13120 USD/T. It was 205 USD/T higher than the price on Monday. The supply of Shanghai future nickel was less today. So, the trading volume was not as large as expection. Due to rising of LME nickel price, the price of Shanghai future nickel went up. Compared with Wuxi 1904 contract, the premium of Russian nickel was 700 RMB/T, and the premium of Jinchuan nickel was 1500-1600 RMB/T. Today, Jinchuan didn’t adjust its electrolytic nickel price. The price was 104800 RMB/T

Because of restriction of power supply in Inner Mongolia, the supply of ferronickel was insufficient in general. However, the newly added ferronickel capacities had been put into productions. The suppliers were not eager to maintain the prices. It was said that there would be no import quota of Indonesian stainless steel. In other words, Indonesian billet and hot rolling would not be allowed to be imported into China. The enterprise might import more Indonesian ferronickel in the future. So, the market of high grade ferronickel was affected. The mainstream price was 1040-1055 RMB/Nickel. The price of low grade ferronickel remained at 3250-3450 RMB/T

• [Editor:王可]