SMM Nickel Market Daily Review (2015-3-31)

SHANGHAI, Apr. 1 (SMM) – SMM #1 nickel prices were between RMB 96,700-98,100/mt. Jinchuan nickel prices breached RMB 100,000/mt in the afternoon. When combined with a large inflow of imported nickel expected, trading muted, with traded prices between RMB 96,900-98,100/mt. Supply tightness eased in the afternoon due to shipments of Russian nickel arriving, allowing premiums on Jinchuan nickel to decrease. Nonetheless, discounts on Russian nickel over Jinchuan nickel expanded to RMB 1,500/mt. Downstream buying interest weakened on falling nickel prices on sluggish orders, with traded prices between RMB 96,500-98,200/mt.