[ferro-alloys.com]Yesterday, U.S President Donald Trump announced that U.S would restart the sanction to Iran. The world’s traders were worried that the supply of oil would be restricted. The oil price went up. Relatively, the LME nickel price rose.By the end of trading, the LME nickel was quoted at 13685 USD/T. It was 175 USD/T higher than the price on Monday. In the morning, affected by the rising of LME nickel and decling of inventory in Shanghai Future Exchange, the future nickel prices in all contracts went up largely. Compared to Wuxi 1808 contract, the premium of Russian nickel was 100 RMB/T, and the premium of Jinchuan nickel was 2000 RMB/T. Today, Jinchuan quoted its electrolytic nickel (big board) at 114000 RMB/T. It was 2200 RMB/T higher than the price yesterday.

It was slack season in stainless steel market. The demands for ferronickel was restricted, so was the supply of ferronickel. In Inner Mongolia, parts of plants had resumed their production. However, due to the insufficient demands, the high grade ferronickel price declined to 1060-1080 RMB/Nickel today. In Shandong and Liaoning, the prices of high grade ferronickel remained at 1070-1090 RMB/T. The low grade ferronickel maintained at 3250-3350 RMB/T.

• [Editor:王可]