SHANGHAI, Aug. 17 (SMM) – On Thursday’s morning business, premiums of Jinchuan nickel were down sharply after sharp gains in overnight trading, with offers at 500-700 yuan per tonne. Russian nickel was at discounts of 100-0 yuan per tonne.
The price gap between Jinchuan and Russian nickel narrowed to 650 yuan per tonne. Inquiries by traders for Jinchuan nickel increased. Jinchuan Group raised ex-works prices by 2300 yuan to 86,800 yuan per tonne.
WBMS: Global Nickel Market Sees Supply Shortages of 60,300t in Jan.-Jun. 2017
In the face of rapid price gains, downstream producers became wary in purchases, and traded prices were mainly in the range of 86,100-86,800 yuan per tonne in the morning business.
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