SMM Nickel Market Daily Review (2012-10-26)

SHANGHAI, Oct.29 (SMM) -- During the morning trading hours in the Shanghai nickel spot market, mainstream traded prices of nickel from Jinchuan Group were between RMB 118,600-118,800/mt, and mainstream traded prices of nickel from Russia were between RMB 117,300-117,500/mt. During the afternoon trading hours, LME nickel prices slipped, dragging down Jinchuan Group nickel prices to RMB 118,300-118,500/mt and Russian nickel to RMB 117,000/mt.Some bargain hunters replenished stocks during the morning traders, boosting trading sentiment. However, when LME nickel prices slumped during the afternoon trading hours, overall trading sentiment was strong and transactions were limited.