SMM Nickel Market Daily Review (2013-7-24)

SHANGHAI, Jul. 25 (SMM) – In Shanghai, #1 nickel prices were between RMB 98,100-99,200/mt in the morning, and were still concentrated in the range due to the disappointing HSBC’s July PMI for China. As LME nickel prices rose in the afternoon, traders began to hold onto their goods, with Jinchuan nickel prices around RMB 99,400/mt, and Russian nickel prices around RMB 98,200/mt. Transactions were more brisk in the afternoon despite mainly made among traders.