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Home / Metal News / SMM Daily Review - 2012/6/13 Nickel Market

SMM Daily Review - 2012/6/13 Nickel Market

Jun 14, 2012 09:50

Source:SMM

On Wednesday, Mainstream prices of Jinchuan nickel were between RMB 124,200-124,500/mt, while mainstream Russian nickel prices were between RMB 121,300-121,500/mt.

SHANGHAI, Jun. 14 (SMM) -- On Wednesday, Mainstream prices of Jinchuan nickel were between RMB 124,200-124,500/mt, while mainstream Russian nickel prices were between RMB 121,300-121,500/mt. LME nickel prices fell in the morning, but there was still arbitrage room. Spot quotes were firm, allowing downstream buying interest to improve and trading volumes to increase. Besides, stainless steel plants continued to cut output of #300 stainless steel recently and produced #200 and #400 stainless steel to reduce costs. But nickel prices will be impacted if output of #300 stainless steel continued to contract.

Jinchuan nickel

Russian nickel prices

nickel prices

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Zhongwei shares issued an announcement last night that, in view of the company's continued optimism in the high nickel matte recovered from nickel laterite smelting, its wholly-owned subsidiary Zhongwei Hong Kong New Energy reached a supplementary agreement with RIGQUEZA to make additional investments in the joint venture PT.ZhongTsing New Energy. The two parties agreed to build a new laterite smelting project in Indonesia (Phase II) with an annual production capacity of 30,000 m of high nickel matte in metal content on top of Phase I project.

Nov 11, 2021 15:55

Industry

30,000 mt/year (Ni Content) New Capacity of High Nickel Matte to be Added, Bearish on Nickel Prices

Severe Supply Tightness of NPI Sent Nickel Prices to Record High

The current tightness of NPI, coupled with the upward trend in cost-end prices (mainly rising electricity prices) and the reduction in NPI output caused by power rationing, has made the problem of NPI shortage more difficult to solve.

Oct 25, 2021 13:55

Analysis

Severe Supply Tightness of NPI Sent Nickel Prices to Record High

Spot quotations stood high amid low inventories, downstream demand likely to rebound due to work resumption

Nickel futures prices rose significantly last week and then fell to around 140,000 yuan/mt on February 26, and the spot transactions rebounded. Currently, the downstream industries of refined nickel have fully resumed work, and the orders from alloy casting enterprises are relatively stable as they had restocked before CNY and maintained production in holiday.

Mar 2, 2021 13:52

SMM Insight Analysis

Spot quotations stood high amid low inventories, downstream demand likely to rebound due to work resumption

Rising Nickel Price Grows Cautious Buying Interest

Trading sentiment in China’s domestic nickel market was moderate, with SHFE nickel fluctuating.

Oct 10, 2017 13:35

Industry

Rising Nickel Price Grows Cautious Buying Interest

Nickel Price Advances Following Production Cut News

Oct 9, 2017 13:25

Industry

Nickel Price Advances Following Production Cut News

Premiums for Russian Nickel in Bonded Area Rise Rapidly

With the opening of profitable import window for several days, premiums for Russian nickel in bonded area rose rapidly.

Sep 28, 2017 13:43

SMM Insight

Premiums for Russian Nickel in Bonded Area Rise Rapidly

Nickel Purchases Grow for Upcoming One-Week Holiday

On Tuesday, Jinchuan nickel was offered at premiums of RMB 800/mt over Wuxi’s 1710 nickel, and Russian nickel at premiums of RMB 250-300/mt over the same contract.

Sep 19, 2017 14:08

Industry

Nickel Purchases Grow for Upcoming One-Week Holiday

Nickel Price Hovering at Highs Raises Strong Caution

Nickel price hovered at highs on Friday, and market caution ruled market trading sentiment, with small purchases by alloy and electroplating plants, Shanghai Metals Market learns.

Sep 8, 2017 14:11

SMM Insight

Nickel Price Hovering at Highs Raises Strong Caution

Jinchuan Nickel Gets Popular on Small Gap over Russian Nickel

On Tuesday, downstream producers were not active in purchases despite price fallback from highs. Some traders chose to sell Russian nickel and buy Jinchuan nickel due to a smaller gap.

Sep 5, 2017 15:12

Industry Reminder

Premiums of Russian Nickel Edge Higher, SMM Reports

Premiums of imported Russian nickel traded higher slightly last week due to limited resources, Shanghai Metals Market learns.

Sep 4, 2017 13:25

SMM Insight

Premiums of Russian Nickel Edge Higher, SMM Reports

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SMM Daily Review - 2012/6/13 Nickel Market

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