Electrolytic nickel market weekly comment(Oct 28th- Nov 1st) LME nickel price dropped down in general, so did the electrolytic nickel price went down

  • Friday, November 01, 2019
  • Source:ferro-alloys.com

  • Keywords:LME nickel,electrolytic nickel
[Fellow]Electrolytic nickel market weekly comment(Oct 28th- Nov 1st) LME nickel price dropped down in general, so did the electrolytic nickel price went down

[ferro-alloys.com]In this week, FED announced to cut rate. It confirmed to people’s forecast. So, the index of U.S dollar went down. Indonesian government halted export of nickel ore and make investigation on its export. So, there existed rumor that Indonesia would forbid export in advance. So, the nickel price used to rise up. Later, Indonesian government announced that they would not forbid export ban in advance. So, the price dropped down. In general, LME nickel price went down.Yesterday, LME nickel was quoted at 16690 USD/T. Its inventory was 66990 tons. The trading volume was less in domestic nickel market this week.Due to fall of LME nickel price, the price of electrolytic nickel went down in general.In the morning, Jinchuan quoted its electrolytic nickel at 136000 RMB/T.The barrelled small piece electrolytic nickel was quoted at 137200 RMB/T. The price of Jinchuan nickel was 136100-136400 RMB/T, and Russian nickel was quoted at 136000-136300 RMB/T.

 

London Metal Exchange (LME)

Date

Closing Price(USD/T)

Opening Stock(T)

2019-10-25

16850

76758

2019-10-28

16555

70650

2019-10-29

16820

69162

2019-10-30

16790

67908

2019-10-31

16690

66990

 
  • [Editor:王可]

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