SMM May 15th Shanghai Nickel spot Express

SMM, 15 May:

Today, the price of electrolytic nickel in SMM1 is 99600mur101100 yuan / ton, which is 650yuan / ton lower than that of yesterday. Shanghai Nickel fell below the 100000 mark in late trading yesterday and was again under pressure today, with a concussion in the morning market. As the futures price is the lowest point of the week, the market inquiry is active today, the transaction situation is OK. The Russian nickel side reported a flat price increase of 100 yuan / ton to the Shanghai nickel 2006 contract, and some traders reported 200 yuan / ton to 100 yuan / ton for the 07 contract. It is expected that the traders will turn to the 07 contract quotation one after another next week. Therefore, even if the market falls, the traders have not adjusted their prices substantially. Jinchuan nickel to Shanghai nickel 2006 contract rose 1200-1300 yuan / ton, Jinchuan ex-factory price of 100500 yuan / ton, but today the factory shipments are relatively small, most traders still have replenishment demand, so Jinchuan nickel rising water is 100 yuan / ton higher than yesterday. Nickel beans to Shanghai Nickel 2006 contract 750700 yuan / ton.

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