Nickel price trend on October 17th

  • Thursday, October 17, 2019
  • Source:ferro-alloys.com

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

[ferro-alloys.com]American retail index was lower than people’s expectation, so more people called for decreasing interest rate. Brexit negotiation was not in good progress, people gradually felt negative, and the index of British Pound went down. So, LME nickel price dropped down largely. By the end of trading, LME nickel was quoted at 16390 USD/T yesterday. It was 620 USD/T lower than the price on Tuesday.Due to fall of LME nickel price, the nickel price went down in domestic future market, and the trading volume was less.Today, compared with Shanghai future nickel 1911 contract, the premium of Russian nickel was 300-400 RMB/T, and the premium of Jinchuan nickel was 400-600 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 131700 RMB/T, it was 3000 RMB/T lower than the price yesterday.

Today,the stainless steel market kept steady. Meanwhile, the nickel ore price did not drop down today. So, the ferronickel price remained the same. The high grade ferronickel was quoted at 1195-1230 RMB/Nickel.The low grade ferronickel was 3300-3400 RMB/T.

  • [Editor:王可]

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