SMM Daily Review - 2012/7/24 Nickel Market-Shanghai Metals Market

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SMM Daily Review - 2012/7/24 Nickel Market

Price Review & Forecast 09:54:10AM Jul 25, 2012 Source:SMM

SHANGHAI, Jul. 25 (SMM) -- On Tuesday, mainstream prices of Jinchuan nickel were between RMB 115,600-116,000/mt in the morning session, while mainstream Russian nickel prices were between RMB 113,700-114,000/mt. Transactions improved as both downstream buyers and traders increased purchases at lower prices. As of 4:00 pm, mainstream quotes for Jinchuan nickel fell to RMB 115,500/mt as LME nickel prices plunged, while quotes for Russian nickel were also lowered to RMB 113,500/mt, but Transactions were barely made. Plunging LME nickel prices did not affect transactions significantly. 
 

SMM Daily Review - 2012/7/24 Nickel Market

Price Review & Forecast 09:54:10AM Jul 25, 2012 Source:SMM

SHANGHAI, Jul. 25 (SMM) -- On Tuesday, mainstream prices of Jinchuan nickel were between RMB 115,600-116,000/mt in the morning session, while mainstream Russian nickel prices were between RMB 113,700-114,000/mt. Transactions improved as both downstream buyers and traders increased purchases at lower prices. As of 4:00 pm, mainstream quotes for Jinchuan nickel fell to RMB 115,500/mt as LME nickel prices plunged, while quotes for Russian nickel were also lowered to RMB 113,500/mt, but Transactions were barely made. Plunging LME nickel prices did not affect transactions significantly.