Nickel price trend on December 12th

  • Wednesday, December 12, 2018
  • Source:ferro-alloys.com

  • Keywords:Nickel, price trend
[Fellow]Nickel price trend on December 12th

[ferro-alloys.com]Yesterday, Brexit agreement could not be reached, and British Pound kept on dropping. Meanwhile, Sino-U.S trade negotiation made some progress. U.S dollar index went up. Relatively, LME nickel price dropped down by 40 USD/T yesterday. By the end of trading, it was quoted at 10745 USD/T. Due to the insufficient demand for nickel in the market, both Shanghai future nickel price and Jinchuan nickel price fell down,and so did Russian nickel price. Compared with Wuxi 1901 contract, the discount of Russian nickel was 200 RMB/T, and the premium of Jinchuan nickel was 7000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 95500 RMB/T. It was 500 RMB/T lower than the price yesterday.

The stainless steel output fell down in December, the demand volume for ferronickel decreased. Due to the decreasing of 201 series stainless steel output, the price of low grade ferronickel went down today. The mainstream price was 3450-3600 RMB/T. The price of high grade ferronickel remained the same today. It was quoted at 930-950 RMB/Nickel.

  • [Editor:王可]

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