Nickel price trend on April 29th

  • Wednesday, April 29, 2020
  • Source:ferro-alloys.com

  • Keywords:nickel,price trend
[Fellow]Nickel price trend on April 29th

[ferro-alloys.com]Due to downturn of Shanghai market of future nickel, LME nickel market used to kept in lower level. Later, as the index of U.S dollar went down, the price of LME nickel rose up. By the end of trading, LME nickel was quoted at 12330 USD/T. It rose up by 95 USD/T. The supply of future nickel was insufficient, the trading volume was less. Due to upturn of LME nickel market yesterday, the price of future nickel rose up a little. Compared with Shanghai future nickel 2006 contract, the discount of Russian nickel was from 0 to 100 RMB/T, and the premium of Jinchuan nickel was 1300-1400 RMB/T. Jinchuan quoted its electrolytic nickel at 101600 RMB/T. It was the same as the price on last trading day.

The supply of nickel ore was sufficient, So, the pressure from ferronickel supply might be released. Meanwhile, the rising trend of stainless-steel market was restricted. The ferronickel price was stable. Today, the mainstream price of high-grade ferronickel was 950-960 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.

 

  • [Editor:王可]

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