SMM Nickel Market Daily Review (2014-8-5)-Shanghai Metals Market

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SMM Nickel Market Daily Review (2014-8-5)

Price Review & Forecast 09:56:07AM Aug 06, 2014 Source:SMM

SHANGHAI, Aug. 6 (SMM) – SMM #1 nickel prices were between RMB 128,700-129,300/mt, with spot nickel prices in Shanghai up RMB 400/mt. Traders were mostly reticent due to market pessimism, leaving transactions muted and traded prices between RMB 128,800-129,400/mt. Prices of 1408 nickel contracts on the Wuxi electronic trading were stable, but trading volumes decreased sharply. SMM was confirmed only a few stainless steel plants increased purchases for nickel, and end-user demand was sluggish.
 

Key Words:  nickel prices 

SMM Nickel Market Daily Review (2014-8-5)

Price Review & Forecast 09:56:07AM Aug 06, 2014 Source:SMM

SHANGHAI, Aug. 6 (SMM) – SMM #1 nickel prices were between RMB 128,700-129,300/mt, with spot nickel prices in Shanghai up RMB 400/mt. Traders were mostly reticent due to market pessimism, leaving transactions muted and traded prices between RMB 128,800-129,400/mt. Prices of 1408 nickel contracts on the Wuxi electronic trading were stable, but trading volumes decreased sharply. SMM was confirmed only a few stainless steel plants increased purchases for nickel, and end-user demand was sluggish.
 

Key Words:  nickel prices