Nickel price trend on January 29th

  • Tuesday, January 29, 2019
  • Source:ferro-alloys.com

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

[ferro-alloys.com]Sino-U.S negotiation was coming soon, people were cautious about the prospect of the negotiation. The performances of some U.S enterprises were not as good as people expected. People worried that U.S government might be shutdown in the future. U.S stock index decreased. The oil exploitation quantity by U.S increased, and the supply of oil might be increased. So, the oil price dropped down. LME nickel was quoted at 11845 USD/T. It was 105 USD/T lower than the price on last Friday. Influenced by declining of LME nickel price, the domestic future nickel price went down. Compared with Wuxi 1902 contract, the premium of Russian nickel was zero, and the premium of Jinchuan nickel was 1500 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 96000 RMB/T. It was 800 RMB/T lower than the price yesterday. 

The Lunar New Year was coming soon. Both the stainless steel market and ferronickel market kept steady. The mainstream price of high grade ferronickel was 955-970 RMB/Nickel, and low grade ferronickel was quoted at 3250-3450 RMB/T. 

  • [Editor:王可]

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