Jinchuan Group Cuts Ex-works Nickel Prices by RMB 3000/mt (2012/10/10)

SHANGHAI, Oct. 11 (SMM) -- Jinchuan Group cut ex-works prices by RMB 3,000/mt to RMB 130,000/mt on Wednesday. During the morning trading hours, mainstream traded prices of nickel from Jinchuan Group were between RMB 130,700-131,000/mt, and mainstream traded prices of nickel from Russia were between RMB 129,700-130,000/mt. As LME nickel prices fell further during the afternoon trading hours, mainstream traded prices of nickel from Jinchuan Group fell to RMB 129,700/mt and mainstream traded prices of nickel from Russia fell to RMB 127,800-128,000/mt. The price decline attracted some bargain hunters, leaving transactions moderate in the market.