[ferro-alloys.com]U.S government and U.S FED made a discussion about economic prospect. The message was good for macroeconomy. Both stock index and crude oil price rose up largely. So, LME nickel price went up largely. By the end of trading, LME nickel was quoted at 13960 USD/T. It rose up by 220 USD/T. Due to upturn of global nickel market, the price of future nickel rose up in domestic market. The demand from downstream industry decreased, and the trading volume was less. Compared with Shanghai future nickel 2009 contract, the discount of Russian nickel was 200-300 RMB/T, and the premium of Jinchuan nickel was 300-400 RMB/T. Jinchuan quoted its electrolytic nickel at 110000 RMB/T. It was 1700 RMB/T higher than the price on last trading day.

Due to upturns of macroeconomy and LME nickel market, the stainless-steel market was also in upturn. So, the ferronickel price rose up again. Today, the mainstream price of high-grade ferronickel was 975-980 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.

• [Editor:王可]