Tepid buying interest limits nickel spot trading in Shanghai

Published: Jul 2, 2018 15:32

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Weak buying interest of stainless steel producers limited transactions of nickel plate in Shanghai

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.

Market commentary Nickel

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