SMM Nickel Market Daily Review (2013-2-27)

SHANGHAI, Feb. 28 (SMM) -- 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. LME nickel prices fluctuated in narrow range, leaving limited opportunities for arbitrage transactions. As a result, transactions were relatively quiet in spot market. According to some traders, downstream inquiries increased, but transactions were still limited. Nevertheless, it is believed that downstream stock replenishment will gradually increase in the near term.