[ferro-alloys.com]Yesterday, people become more cautious about China-U.S trade negotiation. FED Chairman Powell implied that he would publish message about debt payment. The index of U.S dollar went down. EIA data showed that the inventory of crude oil decreased largely.Meanwhile, OPEC insisted on decreasing their output. So, the oil price went up largely, so did the LME nickel price. By the end of trading, LME nickel was quoted at 13060 USD/T, it was 125 USD/T higher than the price on Tuesday. Encouraged by rising of LME nickel price, the price of Shanghai future nickel lifted up today. Compared with Wuxi 1903 contract, the premium of Russian nickel was 100 RMB/T, and the premium of Jinchuan nickel was 300-400 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 103000 RMB/T, it was 200 RMB/T higher than the price yesterday.

The stainless steel market was still in good condition. The prices of main products went up. Besides, the increasing rate of ferronickel capacity did not reach people’s expection. The supply was insufficient. So, the price of ferronickel went up again. The mainstream price of high grade ferronickel was 1020-1040 RMB/Nickel today. The low grade ferronickel was quoted at 3250-3400 RMB/T

• [Editor:王可]