SMM Nickel Market Daily Review (2015-11-11)

SHANGHAI, Nov. 12 (SMM) – SMM #1 nickel prices were between RMB 72,300-73,500/mt on November 11. Discounts of Jinchuan nickel prices were RMB 100/mt against the most actively traded contracts on the Wuxi electronic trading in the morning, with traded prices between RMB 73,000-73,100/mt. Discounts of Russian nickel prices were RMB 500/mt against the most actively traded contracts on the Wuxi electronic trading in the morning, with traded prices between RMB 72,500-72,600/mt. 

Downstream buyers purchased as needed, with trading lackluster. Some hedge traders moved goods actively after profit-taking. Russian nickel supply was sufficient, but trading was muted, with traded prices between RMB 72,200-72,800/mt. Jinchuan lowered prices by RMB 1,200/mt to RMB 73,200/mt.