[ferro-alloys.com]The trade negotiation between China and U.S ended on Sunday. U.S announced that they would suspend raising tariff rate after March 1^st. The trader was encouraged by the good news. However, U.S President Trump blamed OPEC for high oil price. It made the price fall down. Meanwhile, it also affected LME nickel price. By the end of trading, it was quoted at 12970 USD/T. It was 20 USD/T lower than the price on last Friday. Due to fall of LME nickel, the trader were not as positive as they were yesterday. The price of Shanghai future nickel fell down 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 102300 RMB/T. It was 1000 RMB/T lower than the price yesterday.

The stainless steel market was in good condition. Especially 304 series stainless steel, its price went up largely. Besides, the influence by restriction in Inner Mongolia still existed. The supply of ferronickel was still restricted. So, both Taiyuan Iron & Steel and Tsingshan raised their purchase price of high grade ferronickel. The purchase price by Taiyuan Iron & Steel was 1050-1060 RMB/Nickel, and the purchase price by Tsingshan was 1010-1020 RMB/Nickel. Today, the mainstream price of high grade ferronickel was 1010-1035 RMB/Nickel, and the price of low grade ferronickel remained at 3250-3400 RMB/T

• [Editor:王可]