SMM April 22 Shanghai Nickel spot Daily Review

SMM, 22 April:

Today, SMM1 electrolytic nickel quotation 97200-99300 yuan / ton, due to the re-heating of pessimism, Shanghai nickel led down the basic metal, shortly after the opening of the dive, after the stability of the day, the nickel price is between 97000-98000 yuan / ton. In the spot market, Russian nickel to Shanghai nickel 2006 contract reported 50 yuan / ton to Pingshui, 100 yuan / ton narrower than yesterday's discount range, the lower reaches of the morning market can receive goods, but traders are difficult to make up for the supply of goods at low prices. Jinchuan Nickel Shanghai Nickel 2006 contract rose 1200-1300 yuan / ton, today's market inquiry is active, superimposed today Jinchuan Company Shanghai out of stock, so traders are more willing to rise. And Jinchuan nickel prices fell 100000 again also stimulated the downstream replenishment, the market transaction has also been significantly improved. Afternoon price stabilized, the discount is still stable, the spot is still concluded one after another; in the market to Jinchuan nickel inquiry activity is not reduced, there is also Jinchuan electrolytic nickel warehouse receipt quotation into the market. Today, nickel beans reported 700 yuan / ton to the Shanghai Nickel 2006 contract, resulting in a slight drop in discount compared with yesterday as a result of poor terminal demand.

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