SHANGHAI, Dec. 22 (SMM) -- During Wednesday’s Asian trading hours, LME nickel prices advanced slightly to test USD 19,000/mt as the European Central Bank agreed to provide three-year loans. LME nickel inventories were down by 186 mt to 87,900 mt.
In the Shanghai nickel spot market, mainstream traded prices of nickel from Jinchuan Group were in the RMB 129,800-130,500/mt range, and mainstream traded prices of nickel from Russia were in the RMB 128,000-128,500/mt range. Affected by Tuesday’s LME nickel price rebound, spot nickel prices advanced significantly on Wednesday. However, spot nickel price hike did not boost transactions, with quiet trading sentiment reported.