[ferro-alloys.com]Although Chinese president and U.S president both agreed to have a meeting in G20 summit, people were still cautious about future trade. The prices of most metal fell down, including nickel. By the end of trading, LME nickel was quoted at 12115 USD/T, it was 210 USD/T lower than the price on last Thursday. Today, the price of future nickel rose up. People from downstream industry purchase goods as required. However, the supply of Jinchuan nickel was insufficient, people should go to headquarter in Jinchang to pick up goods. Compared with Wuxi 1907 contract, the discount of Russian nickel was zero, and the premium of Jinchuan nickel was 1100 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 99200 RMB/T. It was 400 RMB/T higher than the price on last Friday.

The capacities of ferronickel like Shandong Xinhai has been started. The effect of Indonesian flood was gradually faded away. In general, the supply of ferronickel will be increased in the future. At present, the stainless steel was in downturn. The demand for ferronickel was restricted. So, the ferronickel market was stable today. The mainstream price of high grade ferronickel was 945-955 RMB/Nickel, and the price of low grade ferronickel was 3200-3400 RMB/T.

• [Editor:王可]