[ferro-alloys.com]On last Friday, both China and U.S made some progress on trade negotiation. People felt optimistic about the final deal. So, the price of nonferrous metal including nickel rose up. By the end of trading, LME nickel was quoted at 12995 USD/T. It was 120 USD/T higher than the price on last Thursday. Although LME nickel price rose up, and the value-added tax rate had dropped down, the price of Shanghai future nickel went down because the trading volume was less in the morning. Compared with Wuxi 1904 contract, the premium of Russian nickel was 200 RMB/T, and the premium of Jinchuan nickel was 1000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 103200 RMB/T. It was the same as the price on last Friday.

Today, the market of stainless steel was not in good condition. The price of some products remained the same, others dropped down. Besides, new ferronickel capacities had been put into production, the price of ferronickel went down. Today, the mainstream price of high grade ferronickel was 1020-1035 RMB/Nickel, and the mainstream price of low grade ferronickel was 3200-3400 RMB/T. They were both lower than the prices last week.

• [Editor:王可]