[ferro-alloys.com]Yesterday, four former FED chairman jointed together to support present chairman Powell. They appealed that FED should kept it independence. However, people thought that FED would cut interest rate again this year.  By the end of trading, LME nickel was quoted at 14955 USD/T. It was 95 USD/T higher the price on Monday.The trading volume was less in future nickel market today. The merchants kept their goods. Traders from downstream industry were positive to search for alternative raw materials. So, the price of future nickel went down today. Compared with Shanghai future nickel 1909 contract, the discount of Russian nickel was 300 RMB/T, and the premium of Jinchuan nickel was 1300-1400 RMB/T. Today, Jinchuan didn’t adjust its electrolytic nickel price, it was quoted at 119100 RMB/T.

The prices of stainless steel products kept on rising. However, the upstream nickel price went down a little, the ferronickel price could not rise up today. the mainstream price of high grade ferronickel remained at 1050-1080 RMB/Nickel, and the low grade ferronickel price remained at 3050-3250 RMB/T.

• [Editor:王可]