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SMM Nickel Market Daily Review (2013-7-18)
Jul 19,2013 09:07CST
price review forecast
Source:SMM
In Shanghai, transactions of Jinchuan nickel were more brisk than Russian nickel, and were more active in the morning.

SHANGHAI, Jul. 19 (SMM) – In Shanghai, transactions of Jinchuan nickel were more brisk than Russian nickel, and were more active in the morning. LME nickel prices overnight closed the day up USD 196/mt, but China’s domestic spot prices only rose by RMB 400/mt, with the domestic/overseas nickel price ratio unfavorable for imports, keeping transactions of Russian nickel quiet. Jinchuan nickel raised nickel prices further by RMB 1,000/mt, to RMB 98,500/mt, and will likely update prices every day. But Jinchuan’s quotes barely affected the market, with prices between RMB 97,700-97,900/mt. #1 nickel prices were between RMB 96,700-97,800/mt in the morning, although LME nickel prices inched down in the afternoon, spot prices held firm, with Jinchuan nickel prices between RMB 97,700-97,800/mt, and Russian nickel prices between RMB 96,700-96,800/mt.

 

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