Nickel price trend on October 4th

  • Monday, November 04, 2019

  • Keywords:nickel,price trend
[Fellow]Nickel price trend on October 4th

[]FED might suspend decreasing interest. An analyst from U.S Bank predicted the yield rate of U.S debt might be fallen to below zero. The index of U.S dollar went down a little. Due to uncertainty of Brexit, the index of British Pound kept stable at present. The price of LME nickel rose up a little on last Friday. By the end of trading, LME nickel was quoted at 16770 USD/T on last Friday. It was 80 USD/T higher than the price on last Thursday. The trading volume of nickel was less in domestic future market. Due to rising of LME nickel price, the future nickel price rose up a little today. Compared with Shanghai future nickel 1911 contract, the discount of Russian nickel was 700-900 RMB/T, and the discount of Jinchuan nickel was 200-400 RMB/T.

The demand for stainless steel was less. The traders were not positive in stainless steel market. The ferronickel price could not rise up. It remained stable at present.Today,the high grade ferronickel was quoted at 1140-1170 RMB/Nickel.The low grade ferronickel was quoted at 3300-3450 RMB/T. 

  • [Editor:王可]

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