Nickel price trend on December 20th

  • Thursday, December 20, 2018
  • Source:ferro-alloys.com

  • Keywords:Nickel, price trend
[Fellow]Nickel price trend on December 20th

[ferro-alloys.com]Yesterday, U.S FED announced to raise 25 base point interest rate as expected. The trader thought that the speech tone was not dovish enough in the market. U.S dollar rose up largely. The prices of most metal rose up. By the end of trading, LME nickel was quoted at 10980 USD/T. It was 140 USD/T higher than the price on Tuesday. Although LME nickel price rose up, the traders were not positive in domestic market. Near noon, nickel price dropped down largely. Compared with Wuxi 1901 contract, the discount of Russian nickel was 100 RMB/T, and the premium of Jinchuan nickel was 5000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 94000 RMB/T. It was the same as the price yesterday.

The stainless steel market kept steady. The purchase volume of ferronickel was restricted because some steel plants halted their production. The ferronickel price could not rise up. The market was steady today. The mainstream price of high grade ferronickel was 930-945 RMB/Nickel, and low grade ferronickel was quoted at 3450-3500 RMB/T.

  • [Editor:王可]

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