Nickel price trend on November 7th

  • Thursday, November 07, 2019

  • Keywords:nickel,price trend
[Fellow]Nickel price trend on November 7th

[]Indonesia were investigating their nickel ore export. They would decide whether they resume their nickel ore export or not on Thursday. So, the price of LME nickel dropped down. By the end of trading, LME nickel was quoted at 16230 USD/T yesterday . It was 65 USD/T lower than the price on Tuesday. Due to lack of spot goods, the supply of future nickel was insufficient, the price went up in the morning.Compared with Shanghai future nickel 1912 contract, the discount of Russian nickel was 2500-2600 RMB/T, and the premium of Jinchuan nickel was 3900-4200 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 135700 RMB/T. It was 1100 RMB/T higher than the price yesterday.

The stainless steel market was stable, so was the ferronickel market. oday,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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