China nickel prices get boost on worries over exchange-approved supply

April 15, 2015 7:35 AM

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HONG KONG, April 15 (Reuters) - The six Chinese producers approved to supply nickel against the Shanghai Futures Exchange's new contract for the metal may not be able to provide sufficient output to fill July deliveries, yielding a bump in prices in the near term in China.

Insufficient supply from these producers - plus their unwillingness to sell at current low futures prices - have helped widen the premiums of spot prices for locally produced refined nickel to as much as 1,400-1,500 yuan ($230-$240) per tonne over imported metal this week, according to data provider...

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