[SMM Nickel spot afternoon Review] the shock in Shanghai Nickel Morning Market temporarily closed at the 40-day moving average and spot trading is still light.

SMM, June 30th:

Today, SMM1 Electrolytic Nickel quoted price 101300 won 102800 yuan / ton. The nickel morning market recovered its 40-day moving average and soon fell back to around 101800 yuan / ton. In late trading, it once again stood on the first line of 40-day moving average 102000 yuan / ton. Although the futures price is lower than yesterday, the market turnover has not picked up, and terminal demand is still weak. Russo Nickel to Shanghai Nickel 2008 contract offer 500 to 400 yuan / ton, the same as yesterday, morning trading volume is limited. Jinchuan Nickel to Shanghai Nickel 2008 contract was overquoted at about RMB800 / ton. The supply of goods in Shanghai is still tight. Some traders' supplies are expected to arrive tomorrow, and there will be a certain transfer of goods in the morning. Today the ex-factory price of Jinchuan is 102600 yuan / ton in Shanghai and 102150 yuan / ton in Gansu. The contract of Nickel Bean to Shanghai Nickel 2008 is still a discount of 1400 won 1300 yuan / ton.

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