Nickel Price in Jinchuan decreased to RMB 88500/t

The nickel price of Jinchuan today is RMB90300/t, decreases RMB300/t.

Recently, nickel prices fell due to the expected increase of domestic supply. Shanghai futures exchange data show that the nickel inventory is 109.5 thousand tons, refreshing the highest record of this year. The London Metal Exchange nickel stock is 372.4 thou...

[www. ferro-alloys.com]The first transaction in Asian LME nickel market started with $10470/T today, with that LME nickel prices continued to increase by following the yesterday’s trendy, reaching to the highest price $10670/T.

The first transaction in Asian LME nickel market started with $9870/T yesterday, and LME nickel prices turn into the upwards after slightly dropping by $9790/T, supporting the 5-days line, then, gonging up step by step, with the highest price $10180/T.

[www.ferro-alloys.com]The nickel price are rising until the Friday this week.

China’s investment data in May due for release this week and Fed’s interest rate meeting for June to be held this week should compound pressure on base metals this week.

SHFE 1609 nickel started higher at RMB 68,100/mt for night trading last Friday and grew to RMB 68,250/mt. The contract later ranged RMB 67,700-68,000/mt, to close at RMB 67,740/mt.