[ferro-alloys.com]FED published its conference summary in January. The speech was in dovish tone. So, U.S index went down yesterday. China-U.S trade negotiation went on. The crude oil price lifted up. These caused rising of LME nickel price. By the end of trading, LME nickel was quoted at 12910 USD/T. It was 245 USD/T higher. Encouraged by rising of LME nickel, the future nickel price went up largely in domestic market. Compared with Wuxi 1903 contract, the discount of Russian nickel was zero, and the premium of Jinchuan nickel was 300 RMB/T.

Encouraged by rising of nickel price, the price of stainless steel was kept in higher level in the last few days. Due to rainy season, the supply of nickel from Indonesia and Philippine decreased. Meanwhile, the incrasing rate of ferronickel capacity was not as fast as people expected. So, the ferronickel price might be risen up in the future. The ferronickel price kept steady today. High grade ferronickel was quoted at 980-1010 RMB/Nickel, and the price of low grade ferronickel remained at 3250-3450 RMB/T.

• [Editor:王可]