[Ni Price] SMM Nickel Market Daily Review (2015-7-31)

SHANGHAI, Aug. 3 (SMM) – SMM #1 nickel prices were between RMB 82,300-83,300/mt. Premiums of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were RMB 400/mt in the morning. Jinchuan Group lowered ex-works prices in the afternoon, and downstream buyers entered the market at lows, with traded prices between RMB 82,200-82,900/mt. Nickel futures prices fell in the afternoon, with both traders and downstream buyers pessimistic, leaving trading quiet and traded prices between RMB 82,300-82,800/mt. Jinchuan lowered ex-works price by RMB 1,700/mt to RMB 82,800/mt.