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Nickle price trend on May 9th

  • Thursday, May 10, 2018
  • Source:ferro-alloys.com

  • Keywords:nickle
[Fellow]Nickle price trend on May 9th

[ferro-alloys.com]Affected by geopolitical risks, the USD price went down. Relatively, the metal price rose up,but the effect was limited. Yesterday, LME nickle was quoted at 13930RMB/T which was higher than the price on the last trading day. Compared to Wuxi 1806 contract, the Russian nickle premium was 550RMB/T, and the premium of Jinchuan nickle was 950RMB/T. Today, Jinchuan quoted its electrolytic nickle (big board) at 104400RMB/T. The traders were not positive in the market, and the mainstream price was 104050-104550RMB/T.

After the Labor Festival Holiday, the stainless steel market was in good condition in a period. However, the situation came to an end this week. The price of 304 series stainless steel product decreased, so the ferronickle price could not rise up. Meanwhile, Qsingshan and Taiyuan Iron & Steel had announced their ferronickle purchase prices. They were both higher than the prices in the last period. So the ferronickle price may be kept in this level in short term. The price of high grade ferronickle was 990-1010RMB/nickle, and the low grade ferronickle price was 3000-3050RMB/T.

  • [Editor:王可]

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