Nickel price trend on October 17th

  • Wednesday, October 17, 2018
  • Source:ferro-alloys.com

  • Keywords:Nickel, price trend
[Fellow]Nickel price trend on October 17th

[ferro-alloys.com]Yesterday, Both U.S stock index and U.S dollar rose up. Relatively, LME nickel price dropped down. By the end of trading, LME nickel was quoted at 12535 USD/T. It was 50 USD/T lower than the price on Monday. Both demand and supply levels went up at present. Influenced by declining of LME nickel price, the price of Shanghai Future nickel went on dropping today. Compared to Wuxi 1811 contract, the premium of Russian nickel was 200-250 RMB/T, and the premium of Jinchuan nickel was 6000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 109000 RMB/T. It was 200 RMB/T lower than the price yesterday.

Today, 304 series stainless steel price went down, so did 201 series stainless steel price. In October, influenced by environmental protection inspection, the output of ferronickel was affected in some regions. Today, it was said that a ferronickel plants halted their production in Southern China. The supply was decreased significantly in the market. Today, ferronickel market kept steady, and prices remained the same. The high grade ferronickel was quoted at 1065-1080 RMB/Nickel, and low grade ferronickel was quoted at 3650-3750 RMB/T.

  • [Editor:王可]

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