SMM Nickel Market Daily Review (2015-9-1)

SHANGHAI, Sept. 2 (SMM) – SMM #1 nickel prices were between RMB 74,700-75,800/mt. Jinchuan Group lowered ex-works prices further, with discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading around RMB 200/mt in the morning. Traders sold proactively, while downstream buyers took a wait-and-see posture, with traded prices between RMB 74,900-75,600/mt. Nickel futures prices slumped in the afternoon, with discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading around RMB 300/mt. Traders sold actively, and downstream buyers bought at lower prices ahead of the three days holiday, with traded prices between RMB 74,600-75,000/mt. Jinchuan Group lowered ex-works prices by RMB 800/mt to RMB 75,500/mt.