Nickel price trend on September 30th
[ferro-alloys.com]It is high probability event to decrease interest by FED. Yesterday, the index of U.S dollar reached 98. By the end of trading, LME nickel was quoted at 14350 USD/T. It was 215 USD/T higher than the price on last Friday. Today, due to rising of LME nickel price, the price of future nickel rose up. People were cautious in the market. The trading volume was less. Compared with Shanghai future nickel contract 1908, the discount of Russian nickel was 100-150 RMB/T, and the premium of Jinchuan nickel was 2000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 113500 RMB/T, it was 2000 RMB/T higher than the price yesterday.
The trading volume was less in stainless steel market today. The prices of some products dropped down. So, the ferronickel market was stable today. The mainstream price of high grade ferronickel was 1030-1045 RMB/Nickel, and the price of low grade ferronickel was 3050-3250 RMB/T.