SMM Nickel Market Daily Review (2015-4-10)

SHANGHAI, Apr. 13 (SMM) – SMM #1 nickel prices were between RMB 93,700-95,600/mt. SHFE 1507 nickel contract prices closed at RMB 94,000/mt last Friday morning. Traders sold off goods as nickel prices dropped. Jinchuan lowered prices further, and downstream buying interest was weak, leaving transactions muted and with traded prices between RMB 93,600-95,300/mt. LME nickel prices rebounded in the afternoon, causing spot premiums to decrease further. Downstream buyers purchased as needed, with trading improving and traded prices between RMB 94,000-95,600/mt. Jinchuan lowered nickel prices by RMB 1,000/mt to RMB 95,500/mt.