The first transaction in Asian LME nickel market started with $9870/T yesterday, and LME nickel prices turn into the upwards after slightly dropping by $9790/T, supporting the 5-days line, then, gonging up step by step, with the highest price $10180/T.

[www.ferro-alloys.com]The nickel price are rising until the Friday this week.

China’s investment data in May due for release this week and Fed’s interest rate meeting for June to be held this week should compound pressure on base metals this week.

SHFE 1609 nickel started higher at RMB 68,100/mt for night trading last Friday and grew to RMB 68,250/mt. The contract later ranged RMB 67,700-68,000/mt, to close at RMB 67,740/mt.

Jiangsu Dafeng Harbour holding group in Indonesia Southeast Sulawesi province will invest and build the smelting project of annual 300,000 tons of Ferronickel.

US crude oil inventories and IFO economic climate index for Germany in May will be announced today. Base metals are expected to strengthen with crude oil today, but a few metals will remain weak.

[www.ferro-alloys.com]Ferronickel (10-15%) price is constantly soaring this week, and few plants benefit from its production.

[www.ferro-alloy.com]The price to nickel ore is still soaring this week. Fe0.9%-1.1% CIF was quoted at $ 17-18 and at RMB 150-170;