Electrolytic nickel market weekly comment(Dec 9th- Dec 13th) LME nickel price rose up in general, so did the electrolytic nickel price
[ferro-alloys.com]The supply of nickel ore was relatively sufficient in this week. Besides, some American financial agencies like FED confirmed that, the interest rate would be stable in the future. The index of U.S dollar went down. Relatively, LME nickel price rose up in this week.Yesterday, LME nickel was quoted at 14010 USD/T. Its inventory was 122058 tons. The supply of future nickel was relatively sufficient. Due to lack demand, the traders were not positive in the market in this week. In this week, LME nickel price rose up, so the price of future nickel went up a little. In the morning, Jinchuan quoted its electrolytic nickel at 112300 RMB/T.The barrelled small piece electrolytic nickel was quoted at 113500 RMB/T. The price of Jinchuan nickel was 112300-112500 RMB/T, and Russian nickel was quoted at 109500-109700 RMB/T.
London Metal Exchange (LME) | ||
Date | Closing Price(USD/T) | Opening Stock(T) |
2019-12-6 | 13490 | 68886 |
2019-12-9 | 13320 | 69276 |
2019-12-10 | 13415 | 83520 |
2019-12-11 | 13845 | 96774 |
2019-12-12 | 14010 | 122058 |