[SMM Nickel spot Daily Review] the sharp drop in nickel in the future spurred the downstream to purchase nickel beans and nickel plates with certain transactions today.

SMM, July 16:

Today, SMM1 Electrolytic Nickel is quoted at 106050 RMB107050 per ton. Today, the trading price of nickel in Shanghai gradually fell back to 106000 yuan / ton in the morning market, with mixed transactions in the morning market. Jinchuan nickel was still more traded, and prices continued to fall in the afternoon, stimulating terminal steel mills to enter the market for purchase, and some traders recorded good transactions. In terms of price quotation, Russo Nickel to Shanghai Nickel 2008 contract is quoted from 500 to 600 yuan / ton. Jinchuan Nickel to Shanghai Nickel 2008 contract rose 200 yuan / ton to 350 yuan / ton, the market supply is relatively abundant, traders low-rise Jinchuan nickel shipments are OK. The ex-factory price of Jinchuan Company is 106700 yuan / ton. after the price has fallen, the willingness of traders to receive goods has gradually weakened, and it is expected that the supply of low-priced goods will be reduced in the future. Nickel beans to Shanghai Nickel 2008 contract is still quoted at 1500 yuan / ton, there are also certain shipments today.

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