SMM Daily Review - 2012/6/13 Nickel Market

SMM Insight 09:50:02AM Jun 14, 2012 Source:SMM

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.
 

SMM Daily Review - 2012/6/13 Nickel Market

SMM Insight 09:50:02AM Jun 14, 2012 Source:SMM

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.