Nickel Spot in Shanghai, Nov 17

SHANGHAI, Nov 17 (SMM) – Nickel futures fluctuated slightly this morning at a low level. Norilsk Nickel is at a RMB 300 – 500 / ton premium than Wuxi most-traded 1712 contract, and Jinchuan Nickel was at a RMB 600 – 800 / ton premium. Most traders preferred to wait for their favorable price this morning. After 10 o’clock, price of refined nickel went up a little and the market became active. The number of transactions was at a steady increase than the day before. Medium and small-sized steel factories, alloy and electroplating enterprises as well as middlemen purchased for their needs. Some merchants also added up to their stocks. The main price range of transaction price was RMB 92,400 – 93,200 / ton this morning.

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