SHANGHAI, Jun. 8 (SMM) - On Tuesday, Jinchuan Group raised ex-works prices for refined nickel to RMB 106,500/mt (large panel), and RMB 107,700/mt (small in barrel), an increase of RMB 2,000/mt. In the Shanghai nickel spot market, the average price of #1 nickel was RMB 105,900/mt, up RMB 1,360/mt from a week earlier. Trading showed no significant improvements one week ahead of the Chinese Dragon Boat Festival, and deals among traders were also quiet due to a lack of arbitrage opportunities.
In China’s spot markets, trading is expected to quiet this coming week due to the Chinese Dragon Boat Festival. Downstream producers are not expected to replenish goods after the holiday either.
