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Home / Metal News / Rapid Price Rises Grow Cautious Buying Attitude in Nickel Market, SMM Reports

Rapid Price Rises Grow Cautious Buying Attitude in Nickel Market, SMM Reports

iconAug 17, 2017 13:30
Source:SMM
On Thursday’s morning business, premiums of Jinchuan nickel were down sharply after sharp gains in overnight trading.

SHANGHAI, Aug. 17 (SMM) – On Thursday’s morning business, premiums of Jinchuan nickel were down sharply after sharp gains in overnight trading, with offers at 500-700 yuan per tonne. Russian nickel was at discounts of 100-0 yuan per tonne.

The price gap between Jinchuan and Russian nickel narrowed to 650 yuan per tonne. Inquiries by traders for Jinchuan nickel increased. Jinchuan Group raised ex-works prices by 2300 yuan to 86,800 yuan per tonne.

WBMS: Global Nickel Market Sees Supply Shortages of 60,300t in Jan.-Jun. 2017

In the face of rapid price gains, downstream producers became wary in purchases, and traded prices were mainly in the range of 86,100-86,800 yuan per tonne in the morning business. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

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

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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