SMM Nickel Market Daily Review (2015-6-25)

SHANGHAI, Jun. 26 (SMM) – SMM #1 nickel prices were between RMB 93,400-94,800/mt. Premiums of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading fell to zero in the morning. Traders sold actively, but downstream buyers lacked buying interest, with traded prices between RMB 93,500-94,500/mt. Nickel prices continued to fall in the afternoon on selling pressure. China Customs shows nickel imports surged in May, leading to oversupply. Downstream buyers stood on the sidelines, with prices between RMB 93,100-94,000/mt.