SMM Nickel Market Daily Review (2012-10-19)

SHANGHAI, Oct. 22 --During the morning trading hours in the Shanghai nickel spot market, mainstream traded prices of nickel from Jinchuan Group were between RMB 126,000-126,300/mt, and mainstream traded prices of nickel from Russia were between RMB 124,100-124,400/mt. As LME nickel prices slipped, downstream producers replenished stocks cautiously and transactions were muted. During the afternoon trading hours, traders lowered offers to promote transactions. Offers of nickel from Jinchuan Group were around RMB 125,900/mt and mainstream offers of nickel from Russia were around RMB 124,000/mt. However, transactions were still sluggish.