SMM Nickel Market Daily Review (2015-11-10)

SHANGHAI, Nov. 11 (SMM) – SMM #1 nickel prices were between RMB 71,600-72,700/mt on November 10. Discounts of Jinchuan nickel prices were RMB 100/mt against the most actively traded contracts on the Wuxi electronic trading in the morning, with traded prices between RMB 72,300-72,400/mt. Discounts of Russian nickel prices were RMB 500/mt against the most actively traded contracts on the Wuxi electronic trading in the morning, with traded prices between RMB 71,700-71,800/mt. Both traders and downstream buyers took a wait-and-see posture as nickel futures prices hit a near-term low. Nickel futures prices bottomed, and declined in spot nickel prices. Traded prices were between RMB 71,700-72,400/mt in the afternoon.