[Ni Price] SMM Nickel Market Daily Review (2015-7-22)

SHANGHAI, Jul. 23 (SMM) – SMM #1 nickel prices were between RMB 85,300-86,800/mt. Premiums of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were RMB 700/mt in the morning. Nickel price stabilized in the morning. It was reported the SRB will build nickel stocks, improving nickel purchases, with traded prices between RMB 85,500-86,700/mt. Supply increased in the afternoon as nickel price fell, but purchases declined as the news that the SRB will build nickel stocks had been absorbed. Trading for Russian nickel was better than Jinchuan nickel, with traded prices between RMB 84,800-85,700/mt.