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[ferro-alloys.com]The LME nickle price went on rising yesterday, the LME nickle was quoted at 14315 USD/T. Compared to Wuxi 1805 contract, the premium of Russian nickle is 200-300RMB/T, and the price of Jinchuan nickle is 500-600RMB/T. Today, Jinchuan quoted its electrolytic nickle (big board) at 103000RMB/T. The price of nickle was on high level, and the downstream firms were not on great demand for raw material. The mainstream price is 102900-103400RMB/T

As the LME nickle price went on rising, the traders gained their confidences in the stainless steel market.The manufactures quoted their 200 series and 300 series stainless steel products at higher prices. The price of low grade ferronickle  maintained at 2900-3000RMB/T.Influenced by the rising of stainless steel prices, some downstream firms purchase more products. It is a good news for the high grade ferronickle market. However, some steel plants will stop their productions, and traders purchase good at bidding price, the price of high grade ferronickle kept steady. High grade ferronickle was quoted at 965-970RMB/nickle today.

• [Editor:王可]