SMM Nickel Market Daily Review (2015-8-20)

SHANGHAI, Aug. 21 (SMM) – SMM #1 nickel prices were between RMB 78,900-79,700/mt. Discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were zero in the morning. Downstream buyers rushed to the market as nickel prices fell below RMB 80,000/mt, with traded prices between RMB 79,300-79,600/mt. Nickel prices rallied in the afternoon with nickel futures prices. Jinchuan nickel was re-imported recently, leading to ample supply. However, goods available for some electroplaters and alloy producers were low as some traders snapped up goods, with traded prices between RMB 79,700-80,100/mt in the afternoon.