[ferro-alloys.com]Yesterday, it was said that China would apply for trade sanction by WTO. The traders worried about the China-U.S trade tension. So, the nickel price dropped down largely again in London Metal Exchange. By the end of trading, the LME nickel was quoted at 12215 USD/T. It was 195 USD/T lower than the price on Monday. Influenced by declining of LME nickel price, the Shanghai Future nickel price went down largely. Compared to Wuxi 1810 contract, the premium of Russian nickel was 200 RMB/T, and the premium of Jinchuan electrolytic nickel was 6200 RMB/T. Jinchuan quoted its electrolytic nickel at 107000 RMB/T. It was 1000 RMB/T lower than the price yesterday.

The declining of nickel market affected stainless steel market. The price of 304 series stainless steel dropped down. The purchase price of high grade ferronickel by ZPSS was 1080 RMB/Nickel. It was 10 RMB/T lower than the price last week. The demand for high grade ferronickel was insufficient. Today, the mainstream price of high grade ferronickel was 1040-1060 RMB/Nickel. Due to the declining of nickel market, the low grade ferronickel was in great demand. Meanwhile,the coke price was in high level. So, the price of low grade ferronickel was in high level. Today, it was quoted at 3650-3750 RMB/T.

• [Editor:王可]