[ferro-alloys.com]On last Friday,both China and U.S made a good progress on trade negotiation. Due to weak domestic consumption and enterprise expense, the U.S index went down. Meanwhile, the crude oil supply by OPEC decreased, it stimulated the oil price. So, LME nickel price lifted up largely. By the end of trading, LME nickel was quoted at 12990 USD/T. It was 145 USD/T higher than the price on last Thursday. In the morning, affected by rising of LME nickel, the price of Shanghai future nickel went up in general. Compared with Wuxi 1903, the premium of Russian nickel was 50 RMB/T, and the premium of Jinchuan nickel was 300 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 103300 RMB/T. It was 1400 RMB/T higher than the price yesterday.

The market of stainless steel was still in good condition. The price of main product went up a little. It was said that the restriction of power supply in Inner Mongolia might continue until May. It might affect output of ferronickel in Inner Mongolia. So, the price of high grade ferronickel kept on rising on recent two days. The purchase price of high grade ferronickel by ZPSS was 1040 RMB/Nickel. It was 20 RMB/Nickel higher than the price in last week.Today, the mainstream price of high grade ferronickel was 1005-1025 RMB/Nickel, and low grade ferronickel was quoted at 3250-3450 RMB/T.

• [Editor:王可]