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SMM Nickel Market Daily Review (2014-4-1)
Apr 2,2014 08:53
CSTprice review forecast
Source:SMM
In Shanghai, SMM #1 nickel prices were between RMB 102,400-103,400/mt.
SHANGHAI, Apr. 2 (SMM) – In Shanghai, SMM #1 nickel prices were between RMB 102,400-103,400/mt. Jinchuan raised nickel prices by RMB 700/mt to RMB 103,500/mt. Transactions made among traders were active. Due to weakening demand for finance-driven nickel imports, sliding Russian nickel imports and import tax, market players built Russian nickel stocks and were holding back goods, causing the price spread between Russian nickel and Jinchuan nickel to narrow to RMB 900/mt, with prices between RMB 102,800-103,600/mt in the afternoon.
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