SMM Nickel Market Daily Review (2015-5-8)

Published: May 11, 2015 10:00

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SMM #1 nickel prices were between RMB 103,700-109,300/mt.

SHANGHAI, May 11 (SMM) – SMM #1 nickel prices were between RMB 103,700-109,300/mt. Nickel futures prices rose in the morning. Premiums of Jinchuan nickel remained at RMB 5,000/mt against prices for the most actively traded contracts on the Wuxi electronic trading, or even as high as RMB 5,200-5,500/mt. Downstream buyers were inclined to purchase Russian nickel, leaving trading muted and traded prices between RMB 103,500-109,200/mt. Russian nickel prices edged up as nickel futures prices climbed in the afternoon. Trading was mainly for Russian nickel, with traded prices between RMB 104,400-109,200/mt. Jinchuan raised ex-works prices by RMB 2,000/mt to RMB 110,000/mt.

nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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