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Nickel price trend on August 5th

  • Monday, August 5, 2019
  • Source:ferro-alloys.com

  • Keywords:Nickel,price trend
[Fellow]Nickel price trend on August 5th

[ferro-alloys.com]Both American import volume and its export volume dropped down month on month in June. The trade tension between China and U.S has not been solved. The non-agricultural employment situation confirmed to people’s expection. The index of U.S dollar went down. By the end of trading, LME nickel was quoted at 14485 USD/T. It was 35 USD/T higher than the price on last Thursday. Today, the total trading volume was less in future nickel market. The merchants kept their goods for maintaining the price. The price of future nickel rose up largely today. Compared with Shanghai future nickel 1909 contract, the discount of Russian nickel was 250-300 RMB/T, and the premium of Jinchuan nickel was 1500-1600 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 119000 RMB/T. It was 4000 RMB/T higher than the price on last Friday.

Due to rising of LME nickel, the prices of some stainless steel products lifted up. It was said that Indonesian government had started the ban of nickel ore export. It affected nickel market. The price of ferronickel rose up today. The mainstream price of high grade ferronickel was 1050-1070 RMB/Nickel, and the price of low grade ferronickel was 3050-3250 RMB/T.

  • [Editor:王可]

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