[ferro-alloys.com]There was an accident in nickel mine in Nornickel. It shocked the nickel market. According to the report from INSG, the demand for nickel will increase in 2020 global market. So, the price of LME nickel rose up largely. By the end of trading, LME nickel was quoted at 16560 USD/T. It was 475 USD/T lower than the price on Monday.Due to price difference between Wuxi Nickel and Shanghai Nickel, the demand for Shanghai Nickel was restricted. Affected by rising of LME nickel price, the price of Shanghai future nickel went up largely.Today, compared with Shanghai future nickel 1911 contract, the premium of Russian nickel was 0-150 RMB/T, and the premium of Jinchuan nickel was 200-400 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 131900 RMB/T, it was 2400 RMB/T higher than the price Yesterday.

Due to downturn of stainless steel market, the steel plants were negative in ferronickel market, and the bidding price kept on dropping. Today, the price of high grade ferronickel went down again. It was quoted at 1160-1200 RMB/Nickel.The low grade ferronickel was quoted at 3300-3400 RMB/T.

• [Editor:王可]