Snapshot: Nickel spot market in Shanghai

SHANGHAI, Mar 21 (SMM) – Norilsk nickel in the Shanghai market traded at a discount of about 400 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on Wednesday March 21, while Jinchuan traded at a premium of 100 yuan/mt, SMM learned.

Jinchuan offered nickel plate at 101,200 yuan/mt today.

As nickel futures traded in a tight range in the morning, traders made offers actively due to ample supply while downstream consumers purchased as needed. Trading was relatively thin with transactions mostly seen at 100,600-101,200 yuan/mt.

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