Nickel price trend on November 7th

  • Wednesday, November 07, 2018
  • Source:ferro-alloys.com

  • Keywords:Nickel, price trend
[Fellow]Nickel price trend on November 7th

[ferro-alloys.com]Yesterday, traders in international market were waiting for the U.S Mid-term Election result. U.S dollar kept steady. The investors were cautious. LME nickel price rose up. By the end of trading, it was quoted at 11795 USD/T. It was 55 USD/T higher than the price on Monday. Influenced by rising of LME nickel price, Shanghai Future nickel price lifted up in the morning. Compared with Wuxi 1811 contract, the premium of Russian nickel was 400-500 RMB/T, and the premium of Jinchuan nickel was 8000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 106000 RMB/T. It was the same as the price yesterday. 

Today, the stainless steel market was still in downturn. 304 series stainless steel price dropped down. Influenced by environmental protection inspection, the ferronickel output was restricted. Today,ZPSS announced its high grade ferronickel purchase price. The purchase price was 1055 RMB/Nickel. It was 5 RMB/Nickel higher than the price last week. Today, ferronickel market kept steady. The mainstream price of high grade ferronickel was 1030-1045 RMB/Nickel, and low grade ferronickel price maintained at 3550-3650 RMB/T.

  • [Editor:王可]

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