SMM Nickel Market Daily Review (2013-3-22)

SHANGHAI, Mar.25 (SMM) -- In the Shanghai nickel spot market, mainstream offers of nickel from Jinchuan Group were between RMB 118,200-118,400/mt, and mainstream traded prices of nickel from Russia were between RMB 117,100-117,300/mt. As LME nickel prices advanced, many traders were bullish towards price outlook and began to replenish stocks at current low prices, resulting brisk transactions. However, as conditions still did not improve in stainless steel sector, downstream demand was still sluggish.