SMM Nickel Market Daily Review (2013-1-8)

SHANGHAI, Jan. 9 (SMM) – In the Shanghai nickel spot market, mainstream traded prices of nickel from Jinchuan Group were between RMB 122,200-122,300/mt, and mainstream traded prices of nickel from Russia were between RMB 121,200-121,400/mt. Due to emerge of arbitrage opportunity, transactions were brisk in the market. During the afternoon trading hours, mainstream traded prices of nickel from Jinchuan Group were between RMB 122,300-122,500/mt and mainstream traded prices of nickel from Russia were around RMB 121,500/MT. However, transaction turned quiet after price hike.