SMM, May 21:
Today, SMM1 Electrolytic Nickel is quoted at 104750 RMB105650 per ton. due to the unexpected drop in US crude oil yesterday, the basic metals slightly boosted, while the bulls in the nickel market took advantage of the opportunity to substantially increase their positions. Shanghai Nickel broke through the pressure level and rose to the highest level in nearly three months. In the spot market, the discount for rising traders has been lowered to a certain extent today, and there are active enquiries among traders in the morning, there is a certain amount of circulation, but the downstream demand is extremely light. Russo Nickel to Shanghai Nickel 2007 contract quoted 150 to 50 yuan / ton, at the same time in the past two days has been a new import of Russian nickel quotations, it is reported that if a large amount of procurement can be reduced to a certain extent. In terms of Jinchuan nickel, the mainstream traders in the morning market are still reporting that the trading price is still 900mur1100 yuan / ton, and the transaction situation is light. Due to the different holding costs of various traders in the market, it is difficult to replicate the transaction price of a small amount of riser 700mur800 yuan / ton. Jinchuan Company today's ex-factory price of 105400 yuan / ton, No. 1 nickel continues to be out of stock in Shanghai, Gansu area can be pre-sold next week to pick up goods, Jinchuan electroplated grade thick plate is currently on sale. As for nickel beans, the discount has not been further expanded today, and it is still quoted as 900 won 800 yuan per ton.
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