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SMM October 18 Shanghai Nickel spot Newsletter
Oct 18,2019 12:03CST
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SMM, 18 October:

Today, Russian nickel is 300 yuan higher than Shanghai Nickel 1911 to 400 yuan / ton, and Jinchuan Nickel is 500-600 yuan / ton higher than Shanghai Nickel 1911 contract. Today, nickel prices show signs of stopping and falling. Nickel prices fluctuate around a narrow range of 130600 in the morning, with no significant change. Spot market transactions were slightly better than yesterday, but the improvement was not obvious. Basically, there are concentrated transactions near 130600, with 300 yuan per ton of water rising between traders, and the purchase of downstream markets is flat. On the whole, the transaction today is slightly better than yesterday, but not as active as the first half of the week. According to SMM, large steel mills have recently received nickel plates, resulting in a small supply of negotiable goods. The ex-factory price of Jinchuan Company is 131300 yuan / ton, 400 yuan / ton lower than yesterday. The mainstream transaction is in the range of 130800 yuan / ton to 131400 yuan / ton.

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