SMM Daily Review - 2012/7/3 Nickel Market-Shanghai Metals Market

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SMM Daily Review - 2012/7/3 Nickel Market

Price Review & Forecast 09:42:12AM Jul 04, 2012 Source:SMM

SHANGHAI, Jul. 4 (SMM) -- On Tuesday, mainstream prices of Jinchuan nickel were between RMB 122,300-122,500/mt in the morning session, while mainstream Russian nickel prices were between RMB 120,000-120,200/mt. Traders were actively moving goods in the morning, but downstream buyers were cautious at higher prices, leaving transactions quiet. As LME nickel prices rose by nearly RMB 300/mt in the afternoon, spot prices were raised in response. Mainstream prices of Jinchuan nickel rose to RMB 122,700-123,000/mt, while quotes for Russian nickel surged to RMB 120,800-121,000/mt. Transactions were actively made among traders, but downstream buying interest was still low.
 

SMM Daily Review - 2012/7/3 Nickel Market

Price Review & Forecast 09:42:12AM Jul 04, 2012 Source:SMM

SHANGHAI, Jul. 4 (SMM) -- On Tuesday, mainstream prices of Jinchuan nickel were between RMB 122,300-122,500/mt in the morning session, while mainstream Russian nickel prices were between RMB 120,000-120,200/mt. Traders were actively moving goods in the morning, but downstream buyers were cautious at higher prices, leaving transactions quiet. As LME nickel prices rose by nearly RMB 300/mt in the afternoon, spot prices were raised in response. Mainstream prices of Jinchuan nickel rose to RMB 122,700-123,000/mt, while quotes for Russian nickel surged to RMB 120,800-121,000/mt. Transactions were actively made among traders, but downstream buying interest was still low.