Nickel price trend on January 31st

  • Thursday, January 31, 2019

  • Keywords:Nickel, price trend
[Fellow]Nickel price trend on January 31st

[]Yesterday, U.S FED made a dovish speech. The interest rate remained the same. They made a cautious economic forecast. So, U.S dollar went down. Relatively, LME nickel went up. By the end of trading, it was quoted at 12350 USD/T. It was 205 USD/T higher than the price on Tuesday. Encouraged by rising of LME nickel, the domestic future nickel price rose up again. Compared with Wuxi 1902 contract, the premium of Russian nickel was zero, and the premium of Jinchuan nickel was 1000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 98500 RMB/T. It was 200 RMB/T higher than the price  yesterday.

Due to rising of LME nickel price, high grade ferronickel price went up again today. Its mainstream price was 970-990 RMB/T. The low grade ferronickel price kept steady, the mainstream price remained at 3250-3450 RMB/T.

  • [Editor:王可]

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