SMM October 08 Shanghai Nickel spot Newsletter

Published: Oct 8, 2019 12:03

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SMM, Oct. 08:

Today, Russian nickel than Shanghai nickel 1911 discount to flat water, Jinchuan nickel compared with Shanghai nickel 1911 contract generally increased water 100-200 yuan / ton, higher discount water to maintain stability than before the festival. On the first trading day after the festival, nickel prices fell all the way from around 138500 to around 135000, but because of the low activity of the spot market after the festival, the decline in nickel prices had limited stimulus to spot transactions, and the overall trading in the market was still relatively deserted. Nickel prices stabilized and rebounded to 137000 in the process, spot transactions slightly improved, but the volume is still not optimistic, only a small amount of cautious procurement. The ex-factory price of Jinchuan Company is 136500 yuan / ton, which is 500 yuan / ton lower than that before the festival, and the mainstream transaction is 135800-136500 yuan / ton.

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