Nickel price trend on September 7th

  • Monday, September 7, 2020
  • Source:ferro-alloys.com

  • Keywords:nickel,price trend
[Fellow]Nickel price trend on September 7th

[ferro-alloys.com]FED said that U.S non-agricultural employment was in good condition, and they would keep slack monetary policy. It stimulated macroeconomy. So, LME nickel price rose up again. By the end of trading, LME nickel was quoted at 15330 USD/T. It rose up by 260 USD/T. Due to LME nickel price trend, the price of future nickel rose up in domestic market. Compared with Shanghai future nickel 2010 contract, the discount of Russian nickel was 250-350 RMB/T, and the premium of Jinchuan nickel was 1300-1400 RMB/T. Jinchuan quoted its electrolytic nickel at 120200 RMB/T. It was 200 RMB/T higher than the price on last trading day.

The output of stainless-steel increased, the demand for ferronickel increased, too. So, the ferronickel price kept on rising. In Jiangsu, Shandong Provinces, the high-grade ferronickel price reached 1175 RMB/T at most. In Inner Mongolia and Liaoning Province, the price was 1155-1175 RMB/Nickel. The low-grade ferronickel price remained at 3300-3450 RMB/T.

 

  • [Editor:王可]

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