[ferro-alloys.com]U.S announced to impose 10% tariff on $200 billion dollar Chinese goods. Later, China reacted by imposing tariff on $60 billion American goods.However, the panic emotion had faded away in the market. Nonferrous metal price rose up, so did the nickel price. By the end of trading on Tuesday, LME nickel was quoted at 12360 USD/T. It was 85 USD/T higher than the price on Monday. Encouraged by rising of LME nickel price, Shanghai Future Nickel price lifted up today. Compared to Wuxi 1810 contract, the premium of Russian nickel was 450 RMB/T, and the premium of Jinchuan nickel was 6300 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 109500 RMB/T. It was 1500 RMB/T higher than the price yesterday.

The traders were not active in the stainless steel market. Affected by good nickel market, the high grade ferronickel price lifted up today. It was quoted at 1050-1065 RMB/Nickel. The low grade ferronickel market kept steady, the price remained at 3700-3850 RMB/T.

• [Editor:王可]