SMM Daily Review - 2012/7/4 Nickel Market-Shanghai Metals Market

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SMM Daily Review - 2012/7/4 Nickel Market

Price Review & Forecast 09:38:16AM Jul 05, 2012 Source:SMM

SHANGHAI, Jul. 5 (SMM) -- On Wednesday, Jinchuan Group raised nickel prices to RMB 124,000/mt, up RMB 3,000/mt. Mainstream prices of Jinchuan nickel were between RMB 124,000-124,200/mt in the morning session, while mainstream Russian nickel prices were between RMB 120,000-122,000/mt. quotes by traders rose in the morning session, but downstream buyers were cautious, keeping transactions muted. Mainstream prices of Jinchuan nickel fell to RMB 123,800-124,000/mt as LME nickel prices inched down. Transactions were extremely quiet as the market takes a wait-and-see attitude.
 

SMM Daily Review - 2012/7/4 Nickel Market

Price Review & Forecast 09:38:16AM Jul 05, 2012 Source:SMM

SHANGHAI, Jul. 5 (SMM) -- On Wednesday, Jinchuan Group raised nickel prices to RMB 124,000/mt, up RMB 3,000/mt. Mainstream prices of Jinchuan nickel were between RMB 124,000-124,200/mt in the morning session, while mainstream Russian nickel prices were between RMB 120,000-122,000/mt. quotes by traders rose in the morning session, but downstream buyers were cautious, keeping transactions muted. Mainstream prices of Jinchuan nickel fell to RMB 123,800-124,000/mt as LME nickel prices inched down. Transactions were extremely quiet as the market takes a wait-and-see attitude.