Shanghai, May 14 (SMM) - On Friday, the average spot nickel price was RMB 129,410/mt, down RMB 706.7/mt from a week ago. Jinchuan Group cut nickel prices on Wednesday by RMB 3,000/mt, to RMB 130,000/mt, but this price cut did not significantly affect spot prices. Quotes inched down as LME nickel prices fell, but overall transactions remained quiet.
LME nickel prices should continue to fall this week, and domestic spot nickel prices should track LME nickel prices next week, fluctuating between RMB 126,000-135,000/mt.
