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

Published: Nov 12, 2015 09:45

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SMM #1 nickel prices were between RMB 72,300-73,500/mt on November 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.

nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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