SMM May 13th Shanghai Nickel spot Express

SMM, 13 May:

Today, SMM1 Electrolytic Nickel quoted 99900-101300 yuan / ton, the average price decreased by 2150 yuan / ton compared with yesterday. After opening low in Shanghai Nickel this morning, it continued to drill down and rebounded to the bottom after 10:00, leaving the "V" trend in the morning. On the spot side, the discount was more stable than yesterday, and enquiries and transactions were better than yesterday. Russian nickel to Shanghai Nickel 2006 contract report 50 to 50 yuan / ton, the mainstream transaction price is near Pingshui, a small number of traders try to raise the price when the price goes down unilaterally. In addition, some traders in the market have moved their positions to the far month, submitting an offer of 150 yuan / ton for the 07 contract. Jinchuan nickel, Shanghai nickel 2006 contract rose 1000-1100 yuan / ton, the same as yesterday, the transaction has also improved. Today Jinchuan ex-factory price was quoted at 101200 yuan / ton, but due to the second trading session rose too fast, manufacturers appropriate shipments, so low-rise water supply did not have an impact on the market. Today, nickel beans reported 800 yuan / ton to Shanghai Nickel 2006 contract.

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