Nickel price trend on October 30th

  • Wednesday, October 30, 2019

  • Keywords:nickel,price trend
[Fellow]Nickel price trend on October 30th

[]It was said that Indonesian Government had halted nickel ore export, and the index of U.S dollar went down. Global nickel market rose up sharply. By the end of trading, LME nickel was quoted at 16820 USD/T yesterday. It was 265 USD/T higher than the price on Monday. In the morning, Indonesian government published an announcement that they would resume nickel ore export within one or two weeks after the investigation of nickel export violation ended. The nickel export ban would start in January in 2020 as original plan.So, the nickel price went down in domestic future market.Compared with Shanghai future nickel 1911 contract, the discount of Russian nickel was 400 to 500 RMB/T, and the discount of Jinchuan nickel was 200-300 RMB/T.Today, Jinchuan quoted its electrolytic nickel at 135600 RMB/T, it was 2000 RMB/T lower than the price yesterday.

Due to fall of nickel market, the stainless steel market was in downturn. The ferronickel price could not rise up at present.Today,the high grade ferronickel was quoted at 1140-1170 RMB/Nickel.The low grade ferronickel was quoted at 3300-3400 RMB/T.

  • [Editor:王可]

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