SMM Nickel Market Daily Review (2015-9-8)-Shanghai Metals Market

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SMM Nickel Market Daily Review (2015-9-8)

Price Review & Forecast 10:16:11AM Sep 09, 2015 Source:SMM

SHANGHAI, Sept. 9 (SMM) – SMM #1 nickel prices were between RMB 74,500-75,500/mt. Shipments of Norwegian nickel grew, most of which are from bonded zone. Jinchuan Group has sold proactively recently, squeezing market share of Norwegian nickel. This forced some traders to import Norwegian nickel, growing supply. Discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were RMB 100/mt in the morning. Trading muted now that downstream buyers had finished stockpiling, with traded prices between RMB 74,500-75,100/mt. Nickel futures prices fell further in the afternoon, with traders and downstream buyers buying modestly, with traded prices between RMB 74,200-74,800/mt. Jinchuan Group lowered prices by RMB 800/mt to RMB 75,000/mt.


Key Words:  nickel prices 

SMM Nickel Market Daily Review (2015-9-8)

Price Review & Forecast 10:16:11AM Sep 09, 2015 Source:SMM

SHANGHAI, Sept. 9 (SMM) – SMM #1 nickel prices were between RMB 74,500-75,500/mt. Shipments of Norwegian nickel grew, most of which are from bonded zone. Jinchuan Group has sold proactively recently, squeezing market share of Norwegian nickel. This forced some traders to import Norwegian nickel, growing supply. Discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were RMB 100/mt in the morning. Trading muted now that downstream buyers had finished stockpiling, with traded prices between RMB 74,500-75,100/mt. Nickel futures prices fell further in the afternoon, with traders and downstream buyers buying modestly, with traded prices between RMB 74,200-74,800/mt. Jinchuan Group lowered prices by RMB 800/mt to RMB 75,000/mt.


Key Words:  nickel prices