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.
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.
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