Nickel price trend on November 5th

  • Tuesday, November 5, 2019
  • Source:ferro-alloys.com

  • Keywords:nickel,price trend
[Fellow]Nickel price trend on November 5th

[ferro-alloys.com]FED almost clearly declared that that they would suspend decreasing interest rate in policy summit. They restarted their capital purchase and their paces of easing monetary policy was gradually accelerated. The index of U.S dollar went up largely. Meanwhile, the inventory of LME nickel increased. By the end of trading, LME nickel was quoted at 16325 USD/T yesterday . It was 445 USD/T lower than the price on last Friday. The trading volume of nickel was less in domestic future market. Due to fall of LME nickel price, the future nickel price dropped down largely today. Compared with Shanghai future nickel 1912 contract, the discount of Russian nickel was 2600-28000 RMB/T, and the premium of Jinchuan nickel was 3200-3300 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 133900 RMB/T. It was 2600 RMB/T lower than the price yesterday.

The demand for stainless steel was less. The traders were not positive in stainless steel market. The ferronickel price could not rise up. Recently, Indonesia Jinchuan had sold their ferronickel at first.The domestic inventory of ferronickel increased. There exists some doubts whether the ferronickel price will rise or fall.Today,the high grade ferronickel was quoted at 1140-1160 RMB/Nickel.The low grade ferronickel was quoted at 3300-3450 RMB/T. 

  • [Editor:王可]

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