SMM Nickel Market Daily Review (2015-2-26)

SHANGHAI, Feb. 27 (SMM) –In Shanghai spot nickel market, SMM #1 refined nickel was offered between RMB 105,500-105,900/mt on Thursday. Mainstream traded prices rose to RMB 105,400-106,000/mt in the morning, supported by strong LME nickel. Prices rose further to RMB 106,000-106,300/mt in the afternoon, but higher prices cooled buying. Spot nickel traded at large premiums over April nickel on the Wuxi electronic trading, as Jinchuan Group held back goods and since traders remain on holiday. However, premiums are expected to narrow as supply begins to grow.