China Sees Thin Trading in Nickel Market after Week-Long Holiday, SMM Reports

SHANGHAI, Feb. 18 (SMM) – Trading in both China’s domestic nickel ore and NPI market was thin during the first trading week after the 2016 Chinese New Year holiday, Shanghai Metals Market reports.  

"Light trading is mainly because market players remain out of the market, despite the conclusion of the week-long holiday," SMM nickel analyst says. 

According to SMM survey, only some domestic stainless steel mills purchased refined nickel after prices tumbled, but only at a limited amount. 

On Feb. 18, prices of Ni 0.9-1.0% ore were 135-155 yuan, 160-250 yuan for Ni 1.4-1.6%, and 340-390 yuan for Ni 1.8-1.9% ore, according to SMM data, all unchanged from a day earlier. 

On the same day, prices for Ni 10-15% were 695-705 yuan per mtu, (including tax, ex-works), 700-710 yuan per mtu for Ni 4-6%, and 1,630-1,660 yuan per tonne, according to SMM data.

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