SMM Nickel Market Daily Review (2013-4-26)

SHANGHAI, Apr. 27 (SMM) - Jinchuan Nickel raised ex-works prices by RMB 1,000/mt, to RMB 108,000/mt on Friday. In Shanghai, Jinchuan nickel prices were concentrated between RMB 109,000-109,200/mt in the morning, while Russian nickel prices were between RMB 108,200-108,400/mt. Spot quotes were lowered as LME nickel prices inched down during Asian trading hours, with Jinchuan nickel prices down to RMB 108,900/mt, but Russian nickel prices firm between RMB 108,000-108,200/mt due to tight supply. Downstream buyers were standing on the sidelines due to rising spot prices, and traders also took a wait-and-see attitude ahead of the holiday, keeping transactions muted.