Tepid buying interest limits nickel spot trading in Shanghai-Shanghai Metals Market

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Tepid buying interest limits nickel spot trading in Shanghai

Price Review & Forecast 03:32:32PM Jul 02, 2018 Source:SMM

SHANGHAI, Jul 2 (SMM) – Lacklustre buying interest from stainless steel mills limited transactions of nickel plate in Shanghai on Monday July 2, SMM learned.

Most transactions were heard at 116,500-117,000 yuan/mt. Norilsk nickel traded at a premium of about 100 yuan/mt over the Wuxi Stainless Steel Exchange 1807 contract with Jinchuan trading at a premium of about 300 yuan/mt.

Jinchuan raised its offer of nickel plate to 117,000 yuan/mt.

 

Key Words:  Market commentary   Nickel 

Price

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SMM #1 Nickel
Apr.19
100750.0
-850.0
(-0.84%)
#1 JinChuan Nickel
Apr.19
101550.0
-675.0
(-0.66%)
#1 Import Nickel
Apr.19
99950.0
-1025.0
(-1.02%)
JinChuan B&C
Apr.19
2500.0
300.0
(13.64%)
Russian nickel premium
Apr.19
875.0
-75.0
(-7.89%)

Tepid buying interest limits nickel spot trading in Shanghai

Price Review & Forecast 03:32:32PM Jul 02, 2018 Source:SMM

SHANGHAI, Jul 2 (SMM) – Lacklustre buying interest from stainless steel mills limited transactions of nickel plate in Shanghai on Monday July 2, SMM learned.

Most transactions were heard at 116,500-117,000 yuan/mt. Norilsk nickel traded at a premium of about 100 yuan/mt over the Wuxi Stainless Steel Exchange 1807 contract with Jinchuan trading at a premium of about 300 yuan/mt.

Jinchuan raised its offer of nickel plate to 117,000 yuan/mt.

 

Key Words:  Market commentary   Nickel