[ferro-alloys.com]Due to support from local governments, global macroeconomy was being better. So, encouraged by upturn of macroeconomy, LME nickel price rose up. By the end of trading, LME nickel was quoted at 12975 USD/T. It rose up by 55 USD/T. Due to upturn of LME nickel market, the future nickel price rose up in domestic market. However, the demand from downstream industry was not sufficient. So, the trading volume was less. Compared with Shanghai future nickel 2008 contract, the discount of Russian nickel was 450-500 RMB/T, and the premium of Jinchuan nickel was 700-800 RMB/T. Jinchuan quoted its electrolytic nickel at 107000 RMB/T. It was 2000 RMB/T higher than the price on last trading day.

The stainless-steel market was in downturn, and the ferronickel output increased. So, the ferronickel could not rise up. Today, the mainstream price of high-grade ferronickel was 960-965 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.

• [Editor:王可]