Nickel price trend on January 21st

  • Monday, January 21, 2019
  • Source:ferro-alloys.com

  • Keywords:Nickel, price trend
[Fellow]Nickel price trend on January 21st

[ferro-alloys.com]On last Friday, the traders were optimistic about China-U.S trade negotiation, and U.S industrial manufacture data was higher than expection, so U.S stock index reached to the highest level in last two weeks. Relatively, LME nickel price went up largely. By the end of trading, LME nickel was quoted at 11810 USD/T, it was 225 USD/T higher than the price on last Thursday. Today, the relevant agency announced that the growth rate of Chinese GDP reached 6.6% in 2018. It conforms to people’s expection. Due to rising of LME nickel price, the domestic future nickel price went up largely. Compared with Wuxi 1902 contract, the discount of Russian nickel was 100 RMB/T, and the premium of Jinchuan nickel was 700-800 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 95500 RMB/T. It was 1000 RMB/T higher than the price on last Friday.  

The Spring Festival is coming soon. The stainless steel market was in downturn. Due to the rising of nickel market and inventory shortage, the high grade ferronickel price went up today. The mainstream price was 950-965 RMB/T. The low grade ferronickel remained the same. It was quoted at 3350-3500 RMB/T.

  • [Editor:王可]

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