SMM May 6 Shanghai Nickel spot Newsletter

SMM, 6 May:

Today, SMM1 Electrolytic Nickel quoted 98100-99900 yuan / ton, the average price is down 2250 yuan / ton compared with April 30. As the outer plate fell during the holiday period, Shanghai nickel jumped low today. The overall transaction of Russian nickel in the spot market is OK, but after the opening of the morning market, the market is divided on the rising water. Most of the holders still quote according to the price before the festival. The Russian nickel contract for Shanghai Nickel 2006 is reported near Pingshui. A small amount of non-deliverable Russian nickel can be discounted. Another part of the traders rose to 100 yuan / ton, and reached a certain deal at the beginning of the session, but with the second trading period, the nickel price rebounded and the trading was weak. Jinchuan Nickel Shanghai Nickel 2006 contract rose 1400-1500 yuan / ton, the morning market inquiry is more active, but the market transaction is weak. Today, Jinchuan Company has some goods delivered in Shanghai, the ex-factory price is 100000 yuan / ton, lower than the market price, it is reported that manufacturers in Shanghai today less shipments, traders in Jinchang, Gansu Province. In terms of nickel beans, the Shanghai Nickel 2006 contract was reported to be 650 yuan / ton, which was narrower than that before the festival.

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