[ferro-alloys.com]OPEC agreed to decreased their production in advance. So, the price of crude oil rose up largely. LME nickel market was affected. On last Friday, LME nickel was quoted at 12390 USD/T. It went up by 150 USD/T. Due to rising of LME nickel market, the market of Shanghai future nickel rose up. Compared with Shanghai future nickel 2007 contract, the discount of Russian nickel was from 200 to 250 RMB/T, and the premium of Jinchuan nickel was 1100-1200 RMB/T. Jinchuan quoted its electrolytic nickel at 103200 RMB/T. It was 1600 RMB/T higher the price on last trading day.

The stainless-steel market did not fall down today. So, the ferronickel was stable today. Today, the mainstream price of high-grade ferronickel was 960-995 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.

• [Editor:王可]