Nickel price trend on December 11th

  • Tuesday, December 11, 2018
  • Source:ferro-alloys.com

  • Keywords:Nickel, price trend
[Fellow]Nickel price trend on December 11th

[ferro-alloys.com]Yesterday, British Government delayed the polling hours for Brexit deal. The traders were worried about Brexit plan in March next year. So, British Pound dropped down, and U.S dollar rose up. Relatively, LME nickel price fell down by 170 USD/T. It was quoted at 10785 USD/T. Due to insufficient demand for nickel in domestic market, both the price of Shanghai future nickel and Jinchuan nickel price went down in the morning. A steel plants purchased some Russian nickel at lower price, Russian nickel price went up today. Compared with Wuxi 1901 contract, its discount was 200-300 RMB/T. Jinchuan quoted its electrolytic nickel at 96000 RMB/T today. It was the same as the price yesterday. 

The stainless steel market was in downturn, and its demand was insufficient. The price of 304 series stainless steel product kept on dropping. It affected high grade ferronickel. The price went down further. The mainstream price was 930-350 RMB/Nickel today. The low grade ferronickel price kept steady, it was quoted at 3500-3600 RMB/T.

  • [Editor:王可]

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