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Nickel price trend on November 5th

  • Thursday, November 5, 2020
  • Source:ferro-alloys.com

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

[ferro-alloys.com]Influenced by U.S presidential election, the index of U.S stock rose up, so did the index of U.S dollar. So, LME nickel was quoted at 15415 USD/T. It rose up by 75 USD/T. The downstream industry was in downturn, the future nickel price went down in domestic market despite of upturn of LME nickel market. Compared with Shanghai future nickel 2012 contract, the discount of Russian nickel was 0-250 RMB/T, and the premium of Jinchuan nickel was 5000-5400 RMB/T. Jinchuan quoted its electrolytic nickel at 121300 RMB/T. It was 800 RMB/T higher than the price on last trading day.

The stainless-steel market was still in downturn. However, the ferronickel price was stable because of LME nickel market. In Shandong Provinces, the high-grade ferronickel price reached 1180 RMB/T at most. In Inner Mongolia, the price was 1150-1160 RMB/Nickel. In Jiangsu and Liaoning Provinces, the price was 1160-1170 RMB/Nickel. The low-grade ferronickel price remained at 3300-3400 RMB/T.

 

  • [Editor:王可]

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