SMM Nickel Market Daily Review (2014-10-10)

SHANGHAI, Oct. 11 (SMM) – SMM #1 nickel prices were between RMB 113,800-114,200/mt, with trading brisk and mainly among traders, and traded prices between RMB 113,800-114,400/mt. Spot nickel prices in Shanghai dropped with LME nickel prices in the afternoon, but transactions were actve, with traded prices between RMB 113,500-114,500/mt. Russian nickel prices were RMB 200-300/mt below Jinchuan nickel, with cargo holders unwilling to sell lower-priced goods. Jinchuan raised nickel prices by RMB 500/mt to RMB 114,500/mt, with demand soft.