[ferro-alloys.com]Yesterday, FED chairman Powell had a conversation with U.S President Trump. They discussed with each other about economy growth, employment,currency inflation and so on. Monetary policy was not involved. After the news was reported, U.S dollar was sold and the index of U.S dollar went down. Besides, global supply was sufficient. So, the nickel market was in downturn. By the end of trading, LME nickel was quoted at 14775 USD/T. It was 175 USD/T lower than the price on last Friday. The trading volume was less in domestic future market,and the inventory in domestic market increased. Compared with Shanghai future nickel 1912 contract, the discount of Russian nickel was 2500-2600 RMB/T, and the premium of Jinchuan nickel was 6700-7000 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 126000 RMB/T. It was 600 RMB/T lower than the price yesterday.

The stainless steel market was stable, so was the ferronickel market.The mainstream price o f high grade ferronickel was 1100-1130 RMB/Nickel, and the price of low grade ferronickel was 3250-3400 RMB/T.

• [Editor:王可]