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SMM Nickel Market Daily Review (2013-7-16)
Jul 17,2013 09:00CST
price review forecast
Source:SMM
In Shanghai, Jinchuan nickel prices were between RMB 96,100-96,300/mt, and Russian nickel prices were between RMB 95,100-95,300/mt.

SHANGHAI, Jul. 17 (SMM) – In Shanghai, Jinchuan nickel prices were between RMB 96,100-96,300/mt, and Russian nickel prices were between RMB 95,100-95,300/mt. Jinchuan nickel lowered nickel prices further by RMB 1,000/mt, to RMB 96,500/mt. Downstream buying interest was low, but arbitragers were active due to arbitrage opportunities. Transactions of South African nickel and Russian nickel were more brisk than Jinchuan nickel, with South African nickel prices RMB 400/mt below Russian nickel. After Jinchuan nickel adjusted prices, some traders began to hold onto their goods as spot prices in Shanghai were lower than ex-works prices.
 

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