SMM May 7 Shanghai Nickel spot Daily Review

SMM, May 7:

Today's SMM1 Electrolytic Nickel offer is 101400-103000 yuan / ton. Among them, Russian nickel spot Shanghai nickel 2006 contract to post 50 yuan / ton to ping shui, the market has a small number of non-deliverable nickel plate application 100 yuan / ton; and Jinchuan nickel due to yesterday's low price outflow, today Shanghai nickel 2006 contract up 1200-1300 yuan / ton. As a result of yesterday's Shanghai nickel rush high today's high shock, so downstream fear of high wait-and-see, the inquiry is obviously less than yesterday, the transaction situation is light. Some in the market think that lowering the discount can not improve the transaction, so the willingness to reduce prices is low, and there is little change in the spot discount within the day. Today, the ex-factory price in Jinchuan Shanghai area is 103200 yuan / ton, and the goods can only be picked up in Jinchang area. Nickel beans to Shanghai Nickel 2006 contract reported 700 yuan / ton, demand is still weak.

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