Snapshot: Nickel spot market in Shanghai

SHANGHAI, Mar 16 (SMM) – Norilsk nickel in the Shanghai market was offered at a discount of about 400 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on the morning of Friday March 16.

Jinchuan nickel was offered at a discount of 100-0 yuan/mt, and Jinchuan nickel plate was offered at 102,000 yuan/mt, SMM learned.

As nickel prices fell overnight, traders sold actively while downstream customers purchased as needed. Overall trading picked up slightly, and trades were heard at 101,600-102,100 yuan/mt in the morning.

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