Nickel Purchases Grow for Upcoming One-Week Holiday

SHANGHAI, Sept. 19 (SMM) – On Tuesday, Jinchuan nickel was offered at premiums of RMB 800/mt over Wuxi’s 1710 nickel, and Russian nickel at premiums of RMB 250-300/mt over the same contract. 

The same day, Jinchuan Group announced to cut nickel nickel exports price by RMB 600 to RMB 88,000/mt. 

Trading Heard for Nickel in Bonded Area

After nickel plunged, downstream buying interest improved and get prepared for the upcoming 2017 Chinese National Day holiday in early October. Trading for Russian nickel turned better. Alloy and electroplating plants bought goods at lows. 

Bad Weather Hit Nickel Ore Shipments from Tawi-Tawi, Philippines

To sum up, overall trading was moderate, with traded prices largely between RMB 86,900-88,000//mt in morning business. 

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