SMM Nickel Market Daily Review (2013-2-21)

SHANGHAI, Feb. 22 (SMM) -- During the morning trading session in the Shanghai nickel spot market, mainstream traded prices of nickel from Jinchuan Group were in the RMB 118,800-119,000/mt range, and mainstream traded prices of nickel from Russia were in the RMB 117,800-118,000/mt range. Market transactions were quiet. During the afternoon trading hours, mainstream traded prices of nickel from Jinchuan Group fell to RMB 118,500/mt and mainstream traded prices of nickel from Russia fell drifted lower to RMB 117,300-117,500/mt, as LME nickel prices fell further during the afternoon trading hours. The price decline dampened market confidence, depressing transactions.