SHANGHAI, Nov. 20 (SMM) – SMM #1 nickel prices were between RMB 68,900-70,000/mt on November 19. Premiums of Jinchuan 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 69,600-69,700/mt. Discounts of Russian nickel prices were RMB 300/mt against the most actively traded contracts on the Wuxi electronic trading in the morning, with traded prices between RMB 68,900-69,000/mt. Traders were reluctant to sell as nickel futures prices fell, and downstream buyers stopped purchasing, leaving trading quiet. Supplies were ample with arriving shipments of imported nickel. Jinchuan Group lowered prices by RMB 1,000/mt to RMB 70,000/mt.
SMM Nickel Market Daily Review (2015-11-19)
SMM #1 nickel prices were between RMB 68,900-70,000/mt on November 19.
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