SMM Daily Review - 2012/7/17 Nickel Market

SHANGHAI, Jul. 18 (SMM) -- On Tuesday, mainstream prices of Jinchuan nickel were between RMB 119,500-119,700/mt in the morning session, while mainstream Russian nickel prices were between RMB 117,500-117,700/mt. Traders lowered quotes slightly in the afternoon due to sluggish purchasing from downstream buyers in the morning, with Jinchuan nickel prices down to RMB 119,400-119,500/mt, and Russian nickel prices down to RMB 117,400-117,500/mt. But downstream inquiries were barely reported, and transactions were mainly made among traders. Imported nickel market was also sluggish, so premiums of Russian nickel fell, down from USD 130/mt early in the week, to USD 120/mt.