[ferro-alloys.com]In G20 Summit, both Chinese leaders and U.S leaders agreed to restart trade negotiation. People were not as anxious as before. However, Chinese manufacture PMI reached the lowest lever since July 2016. LME nickel price kept on dropping. By the end of trading, LME nickel was quoted at 12325 USD/T. It was 350 USD/T lower than the price on last Friday. Today, due to fall of LME nickel price, the future nickel price kept on declining. Compared with 1908 contract of Shanghai future nickel , the discount of Russian nickel was 400-500 RMB/T, and the premium of Jinchuan nickel was 1400-1500 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 99200 RMB/T, it was 500 RMB/T lower than the price yesterday. 

At present, the supply of ferronickel was relatively sufficient. The stainless steel was in downturn, so the demand for ferronickel was insufficient. Today, the merchants kept their goods to maintain the price in stainless steel market. The price of some products even rose up a little. So, the mainstream price of high grade ferronickel was 940-960 RMB/Nickel, it was little higher than the price yesterday. The price of low grade ferronickel remained at 3200-3400 RMB/T.

• [Editor:王可]