SHANGHAI, Sept. 5 (SMM) – On Tuesday, downstream producers were not active in purchases despite price fallback from highs. Some traders chose to sell Russian nickel and buy Jinchuan nickel due to a smaller gap of 100-200 yuan per tonne between the two, SMM learns.
On Tuesday, Jinchuan Group cut nickel ex-works price by 400 yuan per tonne, which was lower than its spot offers in the morning business.
Alloy and electroplating plants purchased nickel as-needed. Mainstream traded prices in the morning trade were largely between 95,000-95,200 yuan per tonne.
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