Nickel price trend on November 27th

  • Wednesday, November 27, 2019

  • Keywords:nickel,price trend
[Fellow]Nickel price trend on November 27th

[]Recently, U.S FED announced that they would not adjust Federal Fund Rate. The index of U.S dollar went up. The global economic risks had been released. So, the index of economy data had become better. By the end of trading,LME nickel price was quoted at 14555 USD/T. It was 80 USD/T higher than the price on Monday.The demand for future nickel from downstream industry was insufficient, so the domestic nickel market was in downturn. Compared with Shanghai future nickel 1912 contract, the discount of Russian nickel was 1000-1100 RMB/T, and the premium of Jinchuan nickel was 6200-6500 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 120500 RMB/T. It was 500 RMB/T lower than the price yesterday.

The stainless steel market remained in lower level. It was stable today. So, the ferronickel price was also steady.The mainstream price of high grade ferronickel was 1020-1040 RMB/Nickel. The low grade ferronickel was quoted at 3300-3450 RMB/T.

  • [Editor:王可]

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