Nickel price trend on December 16th

  • Monday, December 16, 2019
  • Source:ferro-alloys.com

  • Keywords:nickel,price trend
[Fellow]Nickel price trend on December 16th

[ferro-alloys.com]Last week, China and U.S reached the text agreement for phase 1 trade negotiation. It was good for global economy. The Conservative Party got majority seats in British Parliament. It might be good for Britain and EU to reach a Brexit Deal. The index of British Pound rose up. Indonesia government would start to forbid nickel ore export next month. The nickel demand might be increased. By the end of trading, LME nickel was quoted at 14215 USD/T on last Friday. It was 205 USD/T higher than the price on last trading day. People were not positive in domestic future market.Due to rising of LME nickel price, the price of future nickel went up. The demand for future nickel decreased. Compared with Shanghai future nickel 2001 contract, the discount of Russian nickel was from 200 to 300 RMB/T, and the premium of Jinchuan nickel was 2000-2100 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 113000 RMB/T. It was 700 higher the price on last Friday. 

The stainless steel market was stable, so was the ferronickel market.Today,the mainstream of high grade ferronickel was 940-960 RMB/Nickel point, and the price of low grade ferronickel was 3300-3450 RMB/T. 

  • [Editor:王可]

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