[ferro-alloys.com]Yesterday, U.S House of Representatives planed to vote for a bill to ensure normal operations of 9 departments and more than ten agencies until Febuary 1st. It was a good news for the market, and U.S dollar went up. The Brexit Deal was rejected by British Parliament, and the exchange rate between British Pound and U.S dollar rose up to 1.28. LME nickel price lifted up largely. By the end of trading, it was quoted at 11605 USD/T. It was 200 USD/T higher than the price on Monday. LME nickel price rose up, and the State Council might put forward easing policy. These encouraged traders in domestic market, and future nickel went up largely in the morning. Compared with Wuxi 1902 contract, the discount of Russian nickel was 100-200 RMB/T, and the premium of Jinchuan nickel was 600-700 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 93700 RMB/T. It was 1200 RMB/T higher than the price yesterday.
The stainless steel market kept steady today, the traders were preparing for stock before Spring Festival. So, ferronickel market was steady, too. The mainstream price was 940-955 RMB/Nickel, and low grade ferronickel was quoted at 3350-3500 RMB/T.
- [Editor:王可]
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