Nickel price trend on January 3rd

  • Thursday, January 3, 2019
  • Source:ferro-alloys.com

  • Keywords:Nickel, price trend
[Fellow]Nickel price trend on January 3rd

[ferro-alloys.com]Yesterday, U.S president Trump invited Congress leaders to deal with government shutdown crisis. The anxious emotion from traders in the market was released. Meanwhile, OPEC decreased its output volume in December last year. The decreasing range was the maximum in the last two year. Oil price rose up, so did the nickel price. By the end of trading, LME nickel was quoted at 10825 USD/T, it was 180 USD/T higher than the price on December 31st. In the morning, due to rising of LME nickel price, the domestic nickel price went up. However, the supply volume was still insuffcient, the rising range was not large. Compared with Wuxi 1901 contract, the premium of Russian nickel was 0-100 RMB/T, and the premium of Jinchuan nickel was 1000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 89000 RMB/T. It was the same as the price yesterday.

Today, the stainless steel kept steady. The demand for stainless steel was still insufficient, the trading volume was less. It affected demand for ferronickel. Tsingshan started its stainless steel production. So, less ferronickel could be put into domestic market. In general, both supply and demand were in lower level. The ferronickel kept steady today. High grade ferronickel was quoted at 925-940 RMB/Nickel, and low grade ferronickel was 3350-3500 RMB/T.

  • [Editor:王可]

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