SMM Nickel Market Daily Review (2013-3-28)

SHANGHAI, Mar.29 (SMM) -- During the morning trading hours in the Shanghai nickel spot market, mainstream offers of nickel from Jinchuan Group were between RMB 117,800-118,000/mt, and mainstream traded prices of nickel from Russia were between RMB 116,800-117,100/mt. During the afternoon trading hours, wait-and-see sentiment grew when LME base metal prices fell across the board. In response, traders lowered Jinchuan nickel prices to RMB 117,700/mt and Russian nickel prices to RMB 116,800/mt. However, price cut still failed to boost transactions.