[ferro-alloys.com]Yesterday, the index of U.S service industry was higher than people’s expect, and so was the amount of newly sold houses. The index of U.S dollar reached the highest level in last 2 weeks. The global observers were focusing on Chinese Two Sessions. It published good news. The government would deepen vat reform. The tax rate would be cut in several industries, such as manufacture, architecture and so on. By the end of trading, LME nickel was quoted at 13650 USD/T. It was 370 USD/T higher than the price on Monday. Encouraged by good news from Two Sessions and rising of LME nickel price, the price of future nickel rose up largely in domestic market in general. Compared with Wuxi 1903 contract, the premium of Russian nickel was 100-150 RMB/T, and the premium of Jinchuan nickel was 700-800 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 107800 RMB/T. It was 1800 RMB/T higher than the price yesterday.

Although, Shandong Xinhai had expanded its capacity, and Indonesian Dragon had also started to expand capacity, the expandtion range had not reached people’s expection. Besides, the power restriction in Inner Mongolia affected local ferronickel output. The supply of ferronickel was insufficient. Meanwhile, LME nickel price lifted up in last few days, and it also led to rising of ferronickel price. Today, the mainstream price of high grade ferronickel was 1045-1065 RMB/Nickel, it was higher than the price yesterday. The low grade ferronickel price was maintained at 3250-3400 RMB/T  

• [Editor:王可]