SMM April 16 Shanghai Nickel spot Newsletter

SMM, 16 April:

Today, SMM1 Electrolytic Nickel quoted 96100-97800 yuan / ton, the average price fell 750 yuan / ton compared with yesterday. Today's nickel price is low open downward, early market Russian nickel to Shanghai nickel 2005 contract flat water to rise 50 yuan / ton, due to falling prices traders are less willing to reduce prices, most of the continuation of yesterday's interval quotation, some traders on the 06 contract reported 150 yuan / ton quotation, today's transaction is better than yesterday. Jinchuan nickel to Shanghai nickel 2005 contract rose 1200-1400 yuan / ton, due to the recent long association customers actively receive goods, low-price supply continues to flow out, Jinchuan nickel rising water has been down, the same transaction has improved. Today, nickel beans to Shanghai nickel 2006 contract report 600 yuan, the current market nickel beans quotation is less, converted into 05 contract price discount range has narrowed compared with yesterday.

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