SMM Daily Review - 2012/3/27 Nickel Market

SHANGHAI, Mar. 28 (SMM) - In the Shanghai nickel market, mainstream traded prices of Jinchuan nickel in the morning business were between RMB 133,300-133,500/mt, and RMB 132,800-133,000/mt for Russian nickel. At the midday, traded prices of Jinchuan nickel remained steady, while low-priced Russian nickel was rarely seen. Market transactions were mainly made at RMB 133,000/mt. Some traders purchased some Russian nickel for stocks on Tuesday, due to supply tightness on Monday. But, many cargo-holders were reluctant to move goods now, as the current traded prices of Russian nickel only allowed limited profits.