SMM Nickel Market Daily Review (2015-11-5)

SHANGHAI, Nov. 6 (SMM) – SMM #1 nickel prices were between RMB 74,700-75,700/mt on November 5. Discounts of Jinchuan nickel prices were zero against the most actively traded contracts on the Wuxi electronic trading in the morning. Discounts of Russian nickel were RMB 500/mt, with traded prices between RMB 74,700-75,300/mt. As the SHFE/LME nickel price ratio improved, additional inflows of imported Russian nickel were reported, expanding spot discounts of Russian nickel to RMB 600/mt. Trading was quiet, though, with traded prices between RMB 74,200-74,800/mt. Jinchuan Group lowered prices by RMB 500/mt to RMB 75,500/mt.