SMM Nickel Market Daily Review (2013-7-10)

SHANGHAI, Jul. 11 (SMM) – In Shanghai, Jinchuan nickel prices were between RMB 95,000-95,200/mt, and Russian nickel prices were between RMB 94,000-94,200/mt. LME nickel prices weakened before rising, and China’s domestic prices inched down, with Jinchuan nickel prices down to RMB 94,900/mt, and Russian nickel prices falling to RMB 93,900/mt. But Jinchuan nickel prices rallied to RMB 95,000-95,200/mt later in the day, and Russian nickel prices rose to RMB 94,000-94,200/mt. LME nickel prices lacked momentum to rise, and downstream buyers were cautious, while traders also stood on the sidelines, keeping transactions muted.