SMM Nickel Market Daily Review (2015-6-19)

SHANGHAI, Jun. 23 (SMM) – SMM #1 nickel prices were between RMB 93,600-95,600/mt. Premiums of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading fell to RMB 800/mt. downstream buyers replenished stocks ahead of the Dragon Boat Festival, with traded prices between RMB 93,800-95,400/mt. Nickel futures prices continued to fall in the afternoon, causing selloffs of finance-driven nickel imports, weighing down discounts of Russian nickel. Discounts of Russian nickel against the most actively traded contracts on the Wuxi electronic trading dropped to RMB 1,000/mt, allowing some traders to enter the market, with traded prices between RMB 93,200-94,700/mt.