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Nickel price trend on July 17th

  • Wednesday, July 17, 2019
  • Source:ferro-alloys.com

  • Keywords:Nickel, price trend
[Fellow]Nickel price trend on July 17th

[ferro-alloys.com]Recently, U.S retail industry were in good condition. The index of U.S dollar rose up. FED chairman Powell reaffirmed that FED would take steps to keep expansion of U.S economy. People predicted that FED would decrease interest. Yesterday, LME nickel was quoted at 13940 USD/T, it was 275 USD/T higher than the price on Monday. The trading volume increased today in future nickel market. Due to rising of LME nickel, the price of future nickel rose up largely. Compared with Shanghai future nickel 1908 contract, the discount of Russian nickel was 300 RMB/T, and the premium of Jinchuan nickel was 800-1000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 110500 RMB/T. It was 3000 RMB/T higher than the price yesterday.

Recently, LME nickel price kept on rising. Philippine government would start 2nd round mining inspection. In this week, an earthquake occurred in Indonesia. These affected ferronickel market. Today, the mainstream price of high grade ferronickel was 970-995 RMB/Nickel, it was higher than the price yesterday. The low grade ferronickel was quoted at 3050-3250 RMB/T. 

  • [Editor:王可]

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