SMM Nickel Market Daily Review (2015-9-17)

SHANGHAI, Sept. 18 (SMM) – SMM #1 nickel prices were between RMB 76,300-77,100/mt. Discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were RMB 200/mt in the morning, with discounts of Russian nickel around RMB 500/mt. Jinchuan Group re-imported some nickel, and traders sold proactively, with traded prices between RMB 76,500-76,900/mt. Trading muted as nickel future prices climbed in the afternoon. As nickel futures prices plunged at the end of trading, downstream buyers suspended purchases, with traded prices between RMB 76,500-77,100/mt. Jinchuan raised nickel prices by RMB 700/mt to RMB 77,000/mt.