[ferro-alloys.com]Yesterday, according to the data from U.S Energy Information Administration, the inventory of U.S crude oil kept on growing for three weeks. So, the price of crude oil went down. Relatively, LME nickel price dropped down. By the end of trading, LME nickel was quoted at 11845 USD/T. It was 55 USD/T lower than the price on last trading day.Today, people were not positive in future nickel market. The merchant kept their goods for higher price. The price of future nickel went up in the morning. Compared with Wuxi 1906 contract, the premium of Russian nickel was 50 RMB/T, and the premium of Jinchuan nickel was 900-1000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 99300 RMB/T, it was 500 RMB/T higher than the price yesterday.

The stainless steel market was quiet today. The product price was stable. Meanwhile, large steel plants, such as Dongte, Qsingshan, did not adjust their bidding price of high grade ferronickel. So, the ferronickel price kept steady today. The mainstream price of high grade ferronickel was 940-950 RMB/Nickel, and the price of low grade ferronickel was 3200-3400 RMB/T.

• [Editor:王可]