[CORRECTION] Jinchuan calls on SHFE to approve foreign nickel brands

Jinchuan Group has called on the Shanghai Futures Exchange to accept foreign nickel brands for delivery against its nickel futures contracts, and to set “appropriate discounts or premiums” for them, a company official said on Friday May 29.

Simon Bao, vice gm of Jinchuan’s nickel and cobalt operations, made the call at the 12th Shanghai derivatives market forum.
The call came amid speculation that the SHFE would soon approve Norilsk nickel for delivery without discounts, indicating possible pressures that the bourse faces as it tries to channel in foreign nickel brands.

As the biggest nickel producer in China, Jinchuan is mulling shifting to the Shanghai Futures Exchange, rather than the London Metal Exchange,...


Linda Lin

June 02, 2015

04:51 GMT