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In the Shanghai nickel spot market, offers increased, but transactions were not brisk in the morning trading hours. However, arbitrage transactions increased, with the expanding spread between Wuxi Electronic Exchange futures nickel prices and spot nickel prices when Wuxi Electronic Exchange futures nickel prices advanced. Mainstream traded prices of nickel from Russia were in the RMB 165,500-166,000/mt range and mainstream traded prices of nickel from Jinchuan Group were in the RMB 166,500-167,500/mt range. Transactions and trading sentiment didn’t improve to great extent at the month-end.
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