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| - Nickel based scrap |
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Frequently Asked Questions and Answers
Q1: How is the price of FeNi derived?
The price of FeNi will depend on the price of Ni at LME.
For example, if we take chemical composition as follows: 40% Ni + 15% Cr + 45% Fe + and take LME price of Ni as 10,755 USD/MT (3-months buyer cash settlement), then the preliminary price would be:
- Ni = 10,755 USD x 93% = 10,002.15 USD/MT
- Cr = 1,350 USD/MT
- Fe = 100 USD/MT
Preliminary FeNi price: 10,002.15 USD x 40% + 1,350 USD x 15% + 100 USD x 45% = 4000.86 + 202.5 + 45 = 4248.36 USD/MT
Final price will depend on the final weight and final chemical composition of the finished product.
For example, the finished product could be 20 MT and 100 kg as oppose to 20 MT exactly.
Chemical composition will stay within the limits but may vary, for example instead of Cr = 12%, we could end up with Cr = 13%.
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