Nickel price trend on October 21st

  • Monday, October 21, 2019

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

[]The index of U.S economy was in lower level. It’s likely that U.S FED would decrease interest. The index of U.S dollar kept on falling. Meanwhile, people were negative with Brexit deal in international market. The index of British Pound went down. Relatively, LME nickel price dropped down. By the end of trading, LME nickel was quoted at 16210 USD/T  It was 620 USD/T lower than the price on Tuesday.Due to fall of LME nickel price, the nickel price kept on dropping 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 128500 RMB/T, it was 2700 RMB/T lower than the price on last Friday.

At present, the stainless steel market was in lower level. The bidding price of ferronickel felt down. So the high grade ferronickel market was in downturn. People kept their spot goods in the market.The high grade ferronickel was quoted at 1180-1210 RMB/Nickel.The low grade ferronickel was 3300-3400 RMB/T.

  • [Editor:王可]

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