SMM Nickel Market Daily Review (2012-12-13)

SHANGHAI, Dec. 14 (SMM) -- During the morning trading hours in the Shanghai nickel spot market, mainstream traded prices of nickel from Jinchuan Group were in the RMB 123,500-123,700/mt range, and mainstream traded prices of nickel from Russia were in the RMB 122,500-122,700/mt range. LME nickel prices moved lower after opening, fueling wait-and-see sentiment in the market. During the afternoon trading hours, traders cut offers to promote sales. Prices of Russian nickel fell to RMB 122,400/mt and Jinchuan Group nickel prices fell to RMB 123,500/mt. However, transactions still did not improve.