Snapshot: Nickel spot market in Shanghai

SHANGHAI, Apr 2 (SMM) – Norilsk nickel in the Shanghai market traded at a discount of about 200 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on Monday April 2, while Jinchuan traded at a premium of 300 yuan/mt, SMM learned.

Jinchuan offered nickel plate at 100,000 yuan/mt.

Traders made offers actively due to ample supply, while downstream consumers took a watch-and-wait approach as the prices remained at highs. Trading was thin, with most transactions seen at 99,500-100,000 yuan/mt.

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