SMM Nickel Market Daily Review (2015-9-2)

SHANGHAI, Sept. 6 (SMM) – SMM #1 nickel prices were between RMB 74,400-75,400/mt. Discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were zero in the morning. Sufficient stocks on hand, combined with rebounding nickel prices, kept downstream buyers on the sidelines, with traded prices between RMB 74,600-75,200/mt. Trading was quiet in the afternoon as most traders and downstream buyers left the market, with traded prices between RMB 74,600-75,300/mt. Jinchuan Group lowered ex-works prices by RMB 500/mt to RMB 75,000/mt.