SMM Nickel Market Daily Review (2013-3-12)

SHANGHAI, Mar.13 (SMM) -- During the morning trading hours in the Shanghai nickel spot market, mainstream traded prices of nickel from Jinchuan Group were between RMB 118,000-118,300/mt, and mainstream traded prices of nickel from Russia were between RMB 117,000-117,200/mt. Arbitrage transactions were relatively brisk. During the afternoon trading hours, as LME nickel prices drifted lower, mainstream traded prices of Jinchuan nickel were around RMB 118,100/mt and Russian nickel price at RMB 117,100/mt. As price spread narrowed, arbitrage transactions turned light.