Nickel price trend on August 16th

  • Thursday, August 16, 2018
  • Source:ferro-alloys.com

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

[ferro-alloys.com]Yesterday, U.S dollar kept strong. Emerging Market got shocked. The traders were anxious in the market. The metal market was shocked, and prices dropped down largely. By the end of trading, LME nickel was quoted at 12880 USD/T. It was 545 USD/T lower than the prices on Wednesday. In the morning, influenced by the declining of LME nickel price, the prices of future nickel in all contracts went down largely in Shanghai Future Exchange. Compared to Wuxi 1809 contract, the premium of Russian nickel was 350 RMB/T, and the premium of Jinchuan electrolytic nickel was 1900 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 110200 RMB/T. It was 2300 RMB/T lower than the price yesterday.

Influenced by the declining of nickel market, 304 series stainless steel prices went down in the market. Very few deals were made in the market. The high grade ferronickel market was affected.Its demand decreased in the market. Today, the prices of high grade ferronickel dropped in different regions. In Inner Mongolia, the price was 1070-1090 RMB/Nickel. In Shandong, Jiangsu and Liaoning Provinces, the price was 1080-1090 RMB/Nickel. The price of low grade ferronickel kept steady. It remained at 3250-3350 RMB/T

  • [Editor:王可]

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