Nickel price trend on August 2nd

  • Thursday, August 2, 2018
  • Source:ferro-alloys.com

  • Keywords:Nickel price, trend
[Fellow]Nickel price trend on August 2nd

[ferro-alloys.com]Yesterday, U.S government announced that they would raise the tariff rate of $200 billion Chinese imported goods from 10% to 25%. It shocked the LME nickel market, and the nickel price went down largely. Yesterday, the LME nickel was quoted at 13390 USD/T by the end of trading. It was 675 USD/T lower than the price on last trading day. The trade war influenced the domestic market in the morning. The prices of future nickel in all contracts declined sharply. Compared to Wuxi 1808 contract,the premium of Russian nickel was 100 RMB/T, and the premium of Jinchuan nickel was 1200 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 112000 RMB/T. It was 2000 RMB/T lower than the price yesterday. 

Today, the stainless steel price went down a little due to the decling of LME nickel. Meanwhile, it affected the high grade ferronickel market. Except LME nickel trend, the relevant files published by the State Council showed that the environmental protection inspection would be normalized. So, the ferronickel production will be restricted in the future. For the rising of use ratio of steel scrap, the demand for ferronickel was insufficient. The ferronickel price could be kept in a relative high level. The price of high grade ferronickel was 1085-1100 RMB/Nickel, and the low grade ferronickel price remained at 3400-3500 RMB/T

  • [Editor:王可]

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