[ferro-alloys.com]Yesterday, US FED made an announcement that they might put an end to tightening cycle. U.S dollar dropped down. The investors undersold technology stocks, U.S stock index went down largely. So, LME nickel price dropped down largely. By the end of trading, LME nickel was quoted at 11190 USD/T. It was 205 USD/T lower than the price on Monday.Influenced by declining of LME nickel price and fewer demands for nickel, Shanghai Future nickel price fell down in the morning. Compared to Wuxi 1812 contract, the premium of Russian nickel was 100-200 RMB/T, and the premium of Jinchuan nickel was 11600 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 103500 RMB/T. It was 1500 RMB/T lower than the price yesterday.

Today, the stainless steel market was in downturn. Both 201 series stainless steel price and 304 series stainless steel price dropped down. Meanwhile, due to declining of LME nickel price, high grade ferronickel price fell down today, so did the low grade ferronickel price. The mainstream price of high grade ferronickel was 1000-1010 RMB/Nickel, and low grade ferronickel price was 3500-3600 RMB/T.

• [Editor:王可]