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SMM Nickel Market Daily Review (2015-6-3)
Jun 4,2015 09:39CST
price review forecast
SMM #1 nickel prices were between RMB 96,300-100,400/mt.

SHANGHAI, Jun. 4 (SMM) – SMM #1 nickel prices were between RMB 96,300-100,400/mt. Supply increased as traders sold proactively in the morning. Premiums of Jinchuan nickel against the most actively traded nickel contracts on the Wuxi electronic trading fell to RMB 3,200/mt, down sharply from late May. Downstream buying interest was low, with traded prices between RMB 96,100-99,600/mt and trading lackluster. Nickel futures prices dropped in the afternoon, and traders sold proactively, weighing on premiums of Jinchuan nickel. Some traders began to sell warrants to increase liquidity, while downstream buyers were unwilling to purchase, leaving overall transactions quiet. Jinchuan Group raised prices by RMB 1,000/mt to RMB 101,000/mt.

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