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Nickel price trend on March 13th

  • Tuesday, March 12, 2019
  • Source:ferro-alloys.com

  • Keywords:Nickel, price trend
[Fellow]Nickel price trend on March 13th

[ferro-alloys.com]Yesterday, U.S Department of Commerce announced that the growth rate of retail in December was -1.6%. It was the lowest level in last 9 years. So, U.S index went down. Besides, British Prime Minister Teresa May made final negotiation with Chairman of EU Commission Junker. The index of British Pound went up largely. By the end of trading, LME nickel was quoted at 12915 USD/T. It was 165 USD/T lower than the price on last Friday. Due to fall of LME nickel price, the price of Shanghai future nickel dropped down. Compared with Wuxi 1903 contract, the premium of Russian nickel was 100 RMB/T,and the premium of Jinchuan nickel was 1000 RMB/T. Today, JInchuan quoted its electrolytic nickel at 104500 RMB/T. It was 300 RMB/T lower than the price yesterday.

Due to declining of LME nickel price, the stainless steel market was not in good condition. Meanwhile, the newly added ferronickel capacities had made effect on the market. The mainstream price of high grade ferronickel was 1045-1060 RMB/Nickel. It was lower than the price in last few days. The price of low grade ferronickel price went up a little. It was quoted at 3250-3450 RMB/T.  

  • [Editor:王可]

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