SMM October 09 Shanghai Nickel spot Newsletter

SMM, Oct. 09:

Today, Russian nickel is 1911 yuan / ton higher than Shanghai nickel, Jinchuan nickel is 200-300 yuan / ton higher than Shanghai nickel 1911 contract, the discount is slightly higher than yesterday, Russian nickel is more concentrated in flat water, Jinchuan Shengshui 200 yuan / ton has a small transaction. At the beginning of the session, nickel prices rose all the way to 137000 near the shock, spot trading is weak, the market is mostly on the sidelines. Subsequently, nickel prices fell slightly to 136800 yuan / ton, some traders entered the market to replenish the warehouse, concentrated in the vicinity of 13.68-136900 trading is slightly concentrated, the downstream market buyers are on the low side. Jinchuan nickel holders are generally more, although the downstream demand is weak, rising water fell near the cost line of most traders, the possibility of continued decline is small. The ex-factory price of Jinchuan Company is 137200 yuan / ton, which is 700 yuan / ton higher than that of yesterday, and the mainstream transaction is 136800-137200 yuan / ton.

(Shanghai SMM Duan Chunjing TEL:021-51666896 QQ: 2880505538 WeChat 18721901187)

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