Electrolytic nickel market weekly comment(Jan 28st- Feb 1st) LME nickel price went up, so did the electrolytic nickel price

  • Friday, February 01, 2019
  • Source:ferro-alloys.com

  • Keywords:electrolytic nickel, LME nickel
[Fellow]Electrolytic nickel market weekly comment(Jan 28st- Feb 1st) LME nickel price went up, so did the electrolytic nickel price

[ferro-alloys.com]According to the temporary agreement between President Trump and Congress, U.S Government started its opreation for three weeks for the moment. FED made an cautious speech, the interest rate remained the same. The domestic situation was unstable in Venezuela, and U.S government announced to impose saction on Venezuela. So,oil price rose up, and it affected nickel price. Besides, an mining dam that belongs Brazilian mining giant Vale was collapsed. People worried about its nickel ore supply. So, LME nickel price rose up in general in this week. Yesterday, LME nickel was quoted at 12475 USD/T, and its inventory was 202032 tons. Due to rising of LME nickel price, the domestic future nickel price went up. The Lunar New Year was coming soon, the trade volume of electrolytic nickel was less than ever.In the morning, Jinchuan quoted its electrolytic nickel at 98500 RMB/T.The barrelled small piece electrolytic nickel was quoted at 99700 RMB/T. They were both the same as the prices yesterday. The price of Jinchuan nickel was 99400-99700 RMB/T, and Russian nickel was quoted at 98150-98350 RMB/T.

·LME nickel price and its inventory detail:

 

London Metal Exchange (LME)

Date

Closing Price(USD/T)

Opening Stock(T)

2019-1-25

11950

202776

2019-1-28

11845

202782

2019-1-29

12145

203058

2019-1-30

12350

202032

2019-1-31

12475

202032

 
  • [Editor:王可]

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