SMM October 31 Shanghai Nickel spot Newsletter

SMM, 31 October:

Today, Russia nickel than Shanghai nickel 1911 discount 1911 to 500, Jinchuan nickel Shanghai nickel 1911 contract general discount 1911 to 300 yuan / ton, discount continues to expand compared with yesterday. First, because the Shanghai Nickel 1911 and Shanghai Nickel 1912 contracts are still upside down at 3000 yuan / ton, the holders have postponed the backward movement of the contract one after another, and try to point the goods on the Shanghai Nickel contract 1911. However, at the end of the month, the market trading was very bleak, only a small number of transactions were completed, and the holders cut down the rising water delivery one after another. in the morning inquiry stage, there were basically no transactions, and some of the holders continued to lower the discount level to stimulate spot transactions, but the effect was very small. The ex-factory price of Jinchuan Company is 136500 yuan / ton, 900 yuan / ton higher than yesterday.

(Shanghai SMM Duan Chunjing TEL:021-51666896 QQ: 2880505538 WeChat 18721901187)

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