Nickel price trend on February 10th

  • Tuesday, February 11, 2020
  • Source:ferro-alloys.com

  • Keywords:nickel, price trend
[Fellow]Nickel price trend on February 10th

[ferro-alloys.com]It was in rainy season in Southeast Asia. The supply of nickel ore was relatively insufficient. Meanwhile, some Chinese manufactories had resumed their productions since February 10th. The demand for nickel increased a little. So, the nickel price rose up in London Metal Exchange. Yesterday, LME nickel was quoted at 12920 USD/T. It was 900 USD/T higher than the price on last trading day. Most traders had restarted their work in domestic market. So, the trading volume was being increased. The demand also increased. So, the price of future nickel went up. Today, compared with Shanghai future nickel 2003 contract, the discount of Russian nickel was from 0 to 200 RMB/T, and the premium of Jinchuan nickel was 1000-1500 RMB/T. Jinchuan quoted its electrolytic nickel at 106500 RMB/T. It was 500 RMB/T higher than the price yesterday.

The stainless-steel market was still affected by Coronavirus. Only few factories had restarted their production. The demand for ferronickel was insufficient. So, the ferronickel still remained in lower level. Today, the price of high-grade ferronickel was 960-970 RMB/Nickel, and the price of low-grade ferronickel was 3300-3450 RMB/T.

 

  • [Editor:王可]

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