SMM Nickel Market Daily Review (2013-1-29)

SHANGHAI, Jan. 30 (SMM) – Jinchuan Group raised ex-works nickel prices by RMB 500/mt, to RMB 123,500/mt on Tuesday. In the Shanghai nickel spot market, mainstream traded prices of nickel from Jinchuan Group were between RMB 123,900-124,000/mt, and mainstream traded prices of nickel from Russia were between RMB 122,900-123,000/mt. During the afternoon trading hours, Jinchuan Group slightly hiked ex-works prices, but prices in the Shanghai nickel spot prices were not affected. Purchases from traders and downstream producers were limited, with quiet trading sentiment reported.