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Electrolytic nickel market weekly comment(May 18th-May 22nd) LME nickel price rose up in general, the price of electrolytic nickel was not stable

  • Friday, May 22, 2020
  • Source:ferro-alloys.com

  • Keywords:electrolytic nickel, LME nickel
[Fellow]Electrolytic nickel market weekly comment(May 18th-May 22nd) LME nickel price rose up in general, the price of electrolytic nickel was not stable

[ferro-alloys.com]In this week, EIA crude oil inventory decreased. So, people felt optimistic with macroeconomy. Due to downturn of U.S economy, the index of U.S dollar went down in most of this week. Besides, the supply of nickel ore was relatively insufficient. So, LME nickel price rose up in general in this week. Yesterday, LME nickel was quoted at 12420 USD/T. Its inventory was 233874 tons. LME nickel price used to rise up, so the price of future nickel used to go up in this week. However, the index of U.S dollar rose up today, the price dropped down largely. It was not stable in general in this week. In the morning, Jinchuan quoted its electrolytic nickel at 101500 RMB/T. The barrelled small piece electrolytic nickel was quoted at 102700 RMB/T. The price of Jinchuan nickel was 101200-101600 RMB/T, and Russian nickel was quoted at 100200-100600 RMB/T.

 

London Metal Exchange (LME)

Date

Closing Price(USD/T)

Opening Stock(T)

2020-5-15

11820

233844

2020-5-18

12260

233640

2020-5-19

12480

233970

2020-5-20

12710

233874

2020-5-21

12420

233874

 
  • [Editor:王可]

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