SMM Daily Review - 2012/7/27 Nickel Market

SHANGHAI, Jul. 30 (SMM) -- Last Friday, mainstream prices of Jinchuan nickel were between RMB 116,200-116,500/mt in the morning session, while mainstream Russian nickel prices were between RMB 114,300-114, 2500/mt. Transactions of Russian nickel were brisk in the morning, despite weak downstream demand. LME nickel prices once touched USD 16000/mt in the afternoon, pushing up spot quotes. Mainstream prices of Jinchuan nickel were between RMB 116,600-116,800/mt, while quotes for Russian nickel were raised to RMB 114,700-114,800/mt. But transactions were muted.