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Home / Metal News / Surging nickel futures hold back spot buyers

Surging nickel futures hold back spot buyers

Apr 19, 2018 13:40

Source:SMM

Norilsk nickel in the Shanghai market traded at a premium of 200 yuan/mt against the Wuxi 1805 contract on Thursday April 19, while Jinchuan traded at a premium of 400 yuan/mt.

SHANGHAI, Apr 19 (SMM) – Norilsk nickel in the Shanghai market traded at a premium of 200 yuan/mt against the Wuxi Stainless Steel Exchange 1805 contract on Thursday April 19, while Jinchuan traded at a premium of 400 yuan/mt, SMM learned.

Jinchuan offered nickel plate at 105,800 yuan/mt.

Traders made offers actively due to ample supply. As nickel futures prices surged overnight, downstream consumers held back their purchases. Trading was thin, with most transactions done at 105,800-106,200 yuan/mt.

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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Surging nickel futures hold back spot buyers

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