SMM Nickel Weekly Price Review and Forecast (Apr. 21-25, 2014)

SHANGHAI, Apr. 22 (SMM) – Last week, the average price for SMM #1 nickel was RMB 120,180/mt, up RMB 7,467.5/mt from a week ago. Jinchuan Group raised ex-works prices four times by a total of RMB 2,000/mt to close the week at RMB 123,000/mt. Downstream consumption did not increase significantly, so traded prices were generally at the lower end of the price range. With the LME closed for the Good Friday holiday, China’s physical markets were quiet.