SMM Nickel Market Daily Review (2015-7-3)

SHANGHAI, Jul. 6 (SMM) – SMM #1 nickel prices were between RMB 87,700-89,200/mt. Premiums of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were RMB 300/mt in the morning. With falling nickel prices, downstream buying interest weakened as they had replenished stocks, with traded prices between RMB 88,000-89,000/mt. Nickel futures prices fluctuated widely in the afternoon, but spot nickel prices held stable. Traders sold actively, leaving supply ample, with traded prices between RMB 88,200-89,000/mt.