Monthly Nickel Market Report Feb 2019
2019-03-15 15:03:52 【Print】
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1. Market Highlights
As LME nickel prices rose during the Spring Festival, small and medium-sized traders felt bullish on the outlook and purchased actively after the holiday. Meanwhile, USD dollar continued to depreciate. Therefore, LME prices rose and nickel cathode prices also rose in Chinese market. At the same period, downstream steel producers began to purchase ferronickel in large quantities right after the festival as they increased their output of stainless steels. But as high grade ferronickel supply was tight, the price of the material rose sharply.
This month, in the power industry, battery grade nickel sulfate prices rose continually due to rising price of nickel cathode and the tight supply of nickel sulfate in Chinese market. Affected by the sharp price drop of cobalt metal and cobalt sulfate after the Spring Festival, NCM precursor prices continued to drop and downstream consumers took a watch-and-see attitude and purchased by orders.
As LME nickel prices rose during the Spring Festival, small and medium-sized traders felt bullish on the outlook and purchased actively after the holiday. Meanwhile, USD dollar continued to depreciate. Therefore, LME prices rose and nickel cathode prices also rose in Chinese market. At the same period, downstream steel producers began to purchase ferronickel in large quantities right after the festival as they increased their output of stainless steels. But as high grade ferronickel supply was tight, the price of the material rose sharply.
This month, in the power industry, battery grade nickel sulfate prices rose continually due to rising price of nickel cathode and the tight supply of nickel sulfate in Chinese market. Affected by the sharp price drop of cobalt metal and cobalt sulfate after the Spring Festival, NCM precursor prices continued to drop and downstream consumers took a watch-and-see attitude and purchased by orders.
