SMM Nickel Market Daily Review (2013-4-19)

SHANGHAI, Apr. 22 (SMM) - Jinchuan Nickel lowered nickel prices by RMB 7,500/mt, to RMB 106,000/mt last Friday. In Shanghai, Jinchuan nickel prices were quoted around RMB 107,000/mt, while Russian nickel prices were around RMB 106,000/mt, with market players actively replenishing stocks and transactions brisk. Traders began to hold prices firm later in the day, with Jinchuan nickel prices up to RMB 107,500-107,700/mt, and Russian nickel prices rising to RMB 106,500-106,700/mt, but trading volumes decreased. Jinchuan nickel costs decreased after Jinchuan Nickel lowered prices, but traders were unwilling to cut prices and holding back goods, keeping transactions muted.