SMM April 28 Shanghai Nickel spot Newsletter

SMM, 28 April:

Today, SMM1 Electrolytic Nickel quoted 99850-101850 yuan / ton, the average price rose 2050 yuan / ton yesterday. The price of nickel jumped short today. At one point it bottomed out below 100000. Morning market enquiries have warmed up, but only a small number of goods downstream, the transaction situation is mediocre. Russian nickel, the morning market to Shanghai nickel 2006 contract reported 100 to flat, after the opening of the morning market, the market price fell, some traders quoted Russian nickel to rise to water quotation, but more difficult to close, as the nickel price stabilized above 100000, the quotation mostly returned to Pingshui near, and the morning market discount quotation can record a small number of transactions. Jinchuan nickel to Shanghai nickel 2006 contract rose 1300-1400 yuan / ton, downstream pick up the goods in general, the transaction of each trader is mixed, Jinchuan Shanghai ex-factory price 101600 yuan / ton, Jinchang price 101150 yuan / ton, Shanghai is still out of stock, but some traders actively receive goods in Jinchang. It is expected that in the future, if the market price rises, Jinchuan rising water may have a small downward adjustment. Nickel beans to Shanghai Nickel 2006 contract reported 700 yuan / ton.

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