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SMM Daily Review - 2010/1/8 Nickel Market
SHANGHAI, Jan. 11 (SMM) -- In Shanghai nickel market, ex-works prices set by Jinchuan Group showed support for nickel prices in the morning, and offers quoted by traders were RMB 142,000/mt. However, the plunged LME nickel prices and pessimistic sentiment in other metals markets depressed the optimistic sentiment in nickel market heavily, raising trader interest in moving goods, and offers fell steadily as a result. Traded prices for imported nickel from Russia remained at RMB 140,000/mt in the afternoon, while traded prices for goods from Jinchuan Group were RMB 141,000/mt. Cargo-holders adopted a cautious attitude, with emerging mixed views on market outlook.
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