Electrolytic nickel market weekly comment(Dec 30th- Jan 3rd) LME nickel price was not steady, so was the electrolytic nickel price
[ferro-alloys.com]In this week, the macroeconomic situation was in good condition. By the end of 2019, the shortage of currency circulation was released. China Central Bank announced to decrease reserve requirement ratio by 0.5 percent. U.S announced that they would sign phase one trade deal with China on January 15th. In general, LME nickel price was not stable.Yesterday, LME nickel was quoted at 14240 USD/T. Its inventory was 153318 tons. The supply of Jinchuan nickel was short in domestic market. The demand for Russian nickel was insufficient. So, the price of Jinchuan nickel rose up and the price of Russian nickel went down. In the morning, Jinchuan quoted its electrolytic nickel at 113000 RMB/T.The barrelled small piece electrolytic nickel was quoted at 114200 RMB/T. The price of Jinchuan nickel was 116000-116500 RMB/T, and Russian nickel was quoted at 110600-110900 RMB/T.
London Metal Exchange (LME) | ||
Date | Closing Price(USD/T) | Opening Stock(T) |
2019-12-27 | 14230 | 143190 |
2019-12-30 | 14320 | 146694 |
2019-12-31 | 14060 | 150690 |
2020-1-2 | 14240 | 153318 |