SMM Nickel Market Daily Review (2014-10-23)

SHANGHAI, Oct. 24 (SMM) – SMM #1 nickel prices were between RMB 103,200-103,400/mt. Russian nickel prices were RMB 200-100/mt below Jinchuan nickel, with trading among traders muted. Traded prices were between RMB 102,800-103,500/mt in the morning, while spot prices continued to rise in the afternoon, with Jinchuan nickel prices touching as high as RMB 103,500/mt. overall transactions were brisk as some electroplaters entered the market. But stainless steel plants’ buying interest remained low.