SMM October 21 Shanghai Nickel spot Newsletter

Published: Oct 21, 2019 11:52

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SMM, 21 Oct:

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, after the opening of nickel prices, quickly fell below 60 antenna support, to 128800 near to stop falling consolidation, but the market trading atmosphere is light, because the supply of negotiable goods is tight, it is difficult for traders to replenish warehouses at low prices, and downstream in the falling market, more in the wait and see. Subsequently, nickel prices continued to fall to around 127800 to stop falling fluctuations, for spot trading stimulus is limited, the whole morning market transaction atmosphere is weak. Jinchuan's ex-factory price is 128500 yuan / ton, 2800 yuan / ton lower than last Friday. The mainstream transaction is in the range of 128300 yuan / ton to 128600 yuan / ton.

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