Electrolytic nickel market weekly comment(Jan 2nd- Jan 4th) LME nickel price went up and down, so did the electrolytic nickel price

  • Friday, January 4, 2019
  • Source:ferro-alloys.com

  • Keywords:electrolytic nickel, LME nickel
[Fellow]Electrolytic nickel market weekly comment(Jan 2nd- Jan 4th) LME nickel price went up and down, so did the electrolytic nickel price

[ferro-alloys.com]On New Year Eve, the future market was in downturn because of shutdown of U.S government and low index data of Chinese manufacture industry in December. On New Year Day, Chinese President made phone call with U.S President. It sent a positive message to the market. Besides, the White House had started to negotiate with Congress leaders to make an end to shutdown status. The panic emotion was released in certain degree. Meanwhile, OPEC reduced its oil output, oil price went up, so did LME nickel price in two days. Yesterday, LME nickel was quoted at 10880 USD/T, and its inventory was 206100 tons. Following LME nickel price trend, the domestic nickel price went up a little. However, the general trading volume was still less, nickel was still in lower level. In the morning, Jinchuan quoted its electrolytic nickel at 89800 RMB/T.The barrelled small piece electrolytic nickel was quoted at 91000 RMB/T. They were both 900 RMB/T higher than the prices yesterday. The price of Jinchuan nickel was 90100-90300 RMB/T, and Russian nickel was quoted at 88900-89050 RMB/T.

·LME nickel price and its inventory detail:

 

London Metal Exchange (LME)

Date

Closing Price(USD/T)

Opening Stock(T)

2018-12-31

10645

207330

2019-1-2

10825

206400

2018-1-3

10880

206100

 
  • [Editor:王可]

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