[Ni Price] SMM Nickel Market Daily Review (2015-7-29)

SHANGHAI, Jul. 30 (SMM) – SMM #1 nickel prices were between RMB 84,000-85,000/mt. Premiums of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were RMB 500/mt in the morning. Nickel prices continued to rebound in the morning. Trading among traders was brisk, and downstream buyers purchased as needed, with traded prices between RMB 84,000-84,600/mt. Nickel futures prices fell slightly in the afternoon, with Russian nickel price RMB 300/mt below the most actively traded contracts on the Wuxi electronic trading. Spot premiums/discounts have been relatively stable recently due to low prices, despite ample supply, with traded prices between RMB 83,100-84,300/mt. Jinchuan raised nickel price by RMB 1,000/mt to RMB 84,500/mt.