SMM Nickel Market Daily Review (2015-8-13)

SHANGHAI, Aug. 14 (SMM) – SMM #1 nickel prices were between RMB 81,800-82,600/mt. Discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were zero in the morning. Cargo holders sold Russian nickel actively, growing discounts of the latter. Spot nickel prices rose slightly, wand downstream buyers purchased as needed, with traded prices between RMB 80,400-82,000/mt. Russian nickel prices climbed in the afternoon, and traders purchased Jinchuan nickel on expectations that imports will decline, with traded prices between RMB 82,000-82,400/mt. Jinchuan raised price by RMB 1,000/mt to RMB 82,300/mt.