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Nickel price trend on January 24th

  • Thursday, January 24, 2019
  • Source:ferro-alloys.com

  • Keywords:Nickel, price trend
[Fellow]Nickel price trend on January 24th

[ferro-alloys.com]Yesterday, U.S stock index went up, and the risk of Brexit was relatively released. Meanwhile, according to the report from INSG, the deficit gap of global nickel demand increased year-on-year from January to November in 2018.It was a good news for nickel market. By the end of trading,LME nickel was quoted at 11695 USD/T. It was 100 USD/T higher than the price on Tuesday. Influenced by rising of LME nickel price, the domestic future nickel price went up. Due to insufficient demand, the rising range of nickel price was small. Compared with Wuxi 1902 contract, the discount of Russian nickel was 0-50 RMB/T, and the premium of Jinchuan nickel was 900-1000 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 94900 RMB/T. It was 400 RMB/T higher than the price yesterday.

Today, the stainless steel market kept steady, so did the ferronickel market. Today, the mainstream price of high grade ferronickel was 950-965 RMB/Nickel, and low grade ferronickel was quoted at 3350-3500 RMB/T.

  • [Editor:王可]

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