Nickel Price Hovering at Highs Raises Strong Caution

SHANGHAI, Sept. 8 (SMM) – Nickel price hovered at highs on Friday, and market caution ruled market trading sentiment, with small purchases by alloy and electroplating plants, Shanghai Metals Market learns. 

SMM Nickel Weekly Price Advances 2,760 yuan/tonne

On Friday, the price gap between Jinchuan and Russian nickel remained small, largely between 100-200 yuan per tonne. Jinchuan nickel traded at premiums of 200-300 yuan per tonne, and Russian nickel traded at premiums of 100 yuan per tonne. 

Jinchuan Group cut nickel ex-works price by 200 yuan per tonne on Friday. Transactions in the morning business were mainly among traders, with traded prices largely between 94,900-95,300 yuan per tonne. 

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