Nickel price trend on November 6th

  • Wednesday, November 06, 2019
  • Source:ferro-alloys.com

  • Keywords:nickel,price trend
[Fellow]Nickel price trend on November 6th

[ferro-alloys.com]U.S ISM non-manufacturing index rose up from the lowest point in the last 3 years.Meanwhile, the trade tension had been eased. So, both the index of U.S dollar and yield rate rose up. British general election is coming soon. The index of British Pound was stable. The inventory of LME nickel kept on rising. By the end of trading, LME nickel was quoted at 16295 USD/T yesterday . It was 30 USD/T lower than the price on Monday. The trading volume of nickel was less in domestic future market. There was almost no spot good in the market. So, price of future nickel did not vary in large scale. Compared with Shanghai future nickel 1912 contract, the discount of Russian nickel was 2500-2600 RMB/T, and the premium of Jinchuan nickel was 3800-5000 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 134600 RMB/T. It was 700 RMB/T higher than the price yesterday.

The demand for stainless steel was less, so was the demand for ferronickel. So, the ferronickel price could not rise up. 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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