Nickel price trend on March 14th

  • Thursday, March 14, 2019

  • Keywords:Nickel, price trend
[Fellow]Nickel price trend on March 14th

[]Yesterday, British Parliment did not vote through new Brexit deal. Later, the parliment members would vote for Brexit without any deal. People believed that it would not be possible to vote through no-deal Brexit. So, the index of British Pound went up. U.S PPI stopped dropping in February, and FED would not raise interest rate in short period. By the end of trading, LME nickel was quoted at 13185 USD/T. It was 65 USD/T higher than the price on Tuesday. There were almost no deal in Shanghai future nickel market in the morning. The price of future nickel went down a little. Compared with Wuxi 1904 contract, the premium of Russian nickel was 1600 RMB/T, and the premium of Jinchuan nickel was 2600-2700 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 104300 RMB/T. It was 200 RMB/T lower than the price yesterday.

Due to raising profit of stainless steel, the output of stainless steel rose up. So, the demand for stainless steel was decreased. Meanwhile, the capacity of ferronickel was expanding, its demand was relatively decreased. The market of high grade ferronickel kept steady today. Its mainstream price was 1040-1055 RMB/Nickel.The market of low grade ferronickel was steady, too. It was quoted at 3250-3450 RMB/T

  • [Editor:王可]

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