SMM Daily Review - 2012/7/18 Nickel Market

SHANGHAI, Jul. 19 (SMM) -- On Wednesday, mainstream prices of Jinchuan nickel were between RMB 118,800-119,000/mt in the morning session, while mainstream Russian nickel prices were between RMB 116,800-117,000/mt. Downstream buyers and some traders purchased modestly in the morning session, causing transactions to improve. In order to boost transactions, traders further lowered quotes at noon, with Jinchuan nickel prices down to RMB 118,700/mt, and Russian nickel prices down to RMB 116,700/mt. But downstream turned cautious as LME nickel prices fell slightly in the afternoon, with transactions muted.