SMM April 15 Shanghai Nickel spot Newsletter

SMM, 15 April:

Today SMM1 Electrolytic Nickel quotation 960098600 / ton, the average price is up 500 yuan / ton compared with yesterday. Russia Nickel to Shanghai Nickel 05 contract flat to 50 yuan / ton, Jinchuan Nickel to Shanghai Nickel 2005 contract in the rising water 1300-1500 yuan / ton. On the Russian nickel side, most traders continued yesterday's discount quotation, the trading situation in the morning market was weaker than yesterday, the center of gravity of nickel prices moved up in the second trading session, and a small number of traders lowered to discount quotations to facilitate transactions. Jinchuan nickel, yesterday, traders from manufacturers to replenish the warehouse, today's market has been rising 1300 yuan / ton quotation, but most of the holders because of the previous cost, is still rising 1400-1500 yuan / ton, the morning market downstream inquiry is relatively weak, the transaction situation is not good. Jinchuan company ex-factory price of 98600 yuan / ton, Shanghai area continues to have goods for sale, but because the market has been a large number of replenishment yesterday, the current delivery situation is less.

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