SMM May 12 Shanghai Nickel spot Newsletter

SMM, 12 May:

Today's SMM1 Electrolytic Nickel quotation is 102000mur103500 yuan / ton, which is 300 yuan / ton lower than yesterday's average price. Today, the Shanghai nickel market fluctuates greatly, the market trading is OK after the opening of the morning market, but after the intraday Shanghai nickel quickly reached above 102000, it fell 2000 yuan / ton in a row. Therefore, the market wait and see sentiment gradually heats up, the trading atmosphere weakens. In terms of discount, Russo Nickel to Shanghai Nickel 2006 contract quoted to level water, the price is the same as yesterday. Jinchuan nickel to Shanghai nickel 2006 contract rose 1000-1100 yuan / ton, Jinchuan company ex-factory price of 103000 yuan / ton is also the same as yesterday, but because the market price fell faster, so traders are less willing to accept goods. It is reported that goods have arrived in Shanghai at present and can be shipped normally in the near future. Nickel beans, Shanghai Nickel 2006 contract report 800-700 yuan / ton. Focusing on the stabilization of nickel prices in the afternoon will be key to improving the trading atmosphere.

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