SMM Nickel Market Daily Review (2015-8-14)

SHANGHAI, Aug. 17 (SMM) – SMM #1 nickel prices were between RMB 81,200-82,200/mt. Discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were RMB 100/mt in the morning. LME and SHFE nickel prices diverged in the morning. Import premiums surged, and Jinchuan nickel prices were firm. Downstream buyers bought modestly, with traded prices between RMB 80,400-81,900/mt. Discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading turned to zero in the afternoon as nickel prices continued to fall. Downstream buying interest was low, with traded prices between RMB 81,100-81,600/mt. Jinchuan lowered price by RMB 300/mt to RMB 82,000/mt.