SHANGHAI, Nov.21 (SMM) -- During the morning trading hours in the Shanghai nickel spot market, mainstream traded prices of nickel from Jinchuan Group were between RMB 117,500-118,000/mt, and mainstream traded prices of nickel from Russia were between RMB 116,500-117,000/mt. LME nickel prices began to advance in the afternoon trading hours, sending Jinchuan Group nickel prices higher to RMB 118,300/mt in the spot market. The surge in LME nickel prices offered arbitrage opportunity, increasing transactions between traders. In addition, the price increase also improved downstream producers’ confidence, increasing their inquires for nickel.
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