|The TEX Report Topics < Ferro Alloys >|
|HOME >> Topics List >> February, 2019 >> 26 (Tue)|
|LME Ni Price for 3-Month Seller Makes Recovery to US$13,000|
|= Because of expected resolution of trade friction between USA and China =|
As to LME nickel prices as of February 22, the one for cash seller and settlement rose to US$12,930 per ton, and the one for 3-month seller rose to US$13,020 following the case in early February when the price went up to around US$13,000. (Hereinafter, the price is per ton)|
As a result of the fact that the trade friction between both countries is expected to go toward resolution in light of such matters as (1) Trade negotiations between USA and China held in Washington is going on smoothly on this day, (2) President Trump had a meeting with Deputy Prime Minister of China on February 22 and (3) Prospect of top-level meeting during March is indicated, while all the stock prices went up in the respective countries, the speculative funds taking a risk flew into copper, zinc and nickel in LME as well, which pushed up the prices.
LME nickel price rose right after the Asian time (trading in Shanghai Futures Exchange), and the price for 3-month seller is hovering at the range of US$13,000 to US$13,100 and the one for cash seller at the range of US$12,900 to US$13,000 respectively.
Besides, albeit the trading on February 25 at the beginning of the week had no big change in the former half of the Asian time, the price began to rise right before the pre-market in LME started, and the nickel price has a high likelihood of continuing rising.
|last modified : Mon 04 Mar, 2019 [10:17]|