[ferro-alloys.com]Yesterday, U.S president Trump announced that U.S might impose tariff on $200 billion Chinese imported goods. It shocked the future market, and the nickel price declined largely in London Metal Exchange. By the end of trading, LME nickel was quoted at 12490 USD/T. It was 305 USD/T lower than the price on Tuesday. Russian nickel flew into the domestic market, the demand didn’t increase. The supply exceeded demand.Meanwhile, LME nickel price dropped down, the future nickel price went down largely in Shanghai Future Exchange. Compared to Wuxi 1809 contract, the premium of Russian nickel was 100 RMB/T, and the premium of Jinchuan nickel was 5700 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 108300 RMB/T. It was 700 RMB/T lower than the price yesterday.

The 304 series stainless steel market kept steady, and the nickel market was in low level. So, the high grade ferronickel price kept in lower level today. The mainstream price was 1070-1090 RMB/Nickel. The 201 series stainless steel market remained steady, and the low grade ferronickel price maintained at 3550-3650 RMB/T.

• [Editor:王可]