[ferro-alloys.com]Due to rising of U.S dollar index, LME nickel price started to drop down after rising for several days. By the end of trading, LME nickel was quoted at 12675 USD/T. It was 60 USD/T lower than the price. Today, the trading volume of future nickel was still restricted. Meanwhile, due to fall of LME nickel price, the price of future nickel went down largely. Compared with Wuxi 1907 contract, the discount of Russian nickel was 200 RMB/T, and the premium of Jinchuan nickel was 1300-1400 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 99700 RMB/T. It was 2100 RMB/T lower than the price on last Friday.

Although the price of stainless steel went up today, the traders were not positive in the market due to the downturn of the market.Besides, the capacities of ferronickel have all started their productions, the supply of ferronickel was sufficient. Relatively, the demand for ferronickel was insufficient. So, the price of ferronickel dropped down a little. Today, the mainstream price of high grade ferronickel was 940-955 RMB/Nickel, and the price of low grade ferronickel was 3200-3400 RMB/T.

• [Editor:王可]