SMM Nickel Market Daily Review (2015-10-21)

SHANGHAI, Oct. 22 (SMM) – SMM #1 nickel prices were between RMB 76,500-77,400/mt October 20. Discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were zero in the morning, with traded prices between RMB 77,100-77,200/mt. Discounts of Russian nickel were RMB 500/mt, with traded prices between RMB 76,700-76,800/mt. Traders and downstream buyers were both cautious, with Jinchuan Group selling in a small quantity. Nickel prices stabilized in the afternoon, with trading quiet. Nickel inventories are still sufficient in Shanghai. Traded prices were between RMB 76,800-77,300/mt.