SMM Nickel Market Daily Review (2015-8-18)

SHANGHAI, Aug. 19 (SMM) – SMM #1 nickel prices were between RMB 81,200-82,200/mt. Discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were RMB 100/mt in the morning. The price spread between Russian and Jinchuan nickel narrowed to RMB 300-400/mt. Downstream buyers replenished stocks modestly,with traded prices between RMB 81,300-81,800/mt. Spot nickel prices slumped in the afternoon with nickel futures prices, with spot premiums/discounts unchanged. Downstream buyers turned cautious, muting trading and with traded prices between RMB 80,300-80,800/mt. Jinchuan hiked price by RMB 300/mt to RMB 81,800/mt.