News from SMM7, March 23:
Russian nickel than Shanghai nickel 1908 sticker 300-stick 100 yuan / ton, narrower than yesterday. In early trading, the nickel price fell to less than 112000 yuan, stabilized and rebounded, to 113000 after a narrow range of shock, the morning transaction response was flat, more for traders to inquire each other, the lower reaches of the market buyers are less. Although the price is much lower than yesterday, but the downstream is still more pessimistic about the future, cautious procurement. Although the spot transaction is cold, but the holder because recently does not have the massive source of goods to flow into the domestic, basically by the straight rise discount water primarily. Jinchuan nickel than Shanghai nickel 1908 contract generally reported a water rise of 1400 yuan / ton, compared with yesterday continued to expand. Jinchuan nickel transaction is also light, but the recent Jinchuan nickel circulation is tight, resulting in a small rise in rising water. The ex-factory price of Jinchuan Company was quoted at 114500, down 1500 yuan per ton from yesterday, and the mainstream transaction was 112900 to 114700 yuan per ton.
(Shanghai SMM Network Duan Chunjing TEL:021-51666896 QQ: 2880505538)
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