Nickel prices fluctuated upward in the morning, and the price difference between nickel beans and nickel sulfate widened [SMM nickel spot afternoon review]

Published: May 7, 2024 18:38

Source: SMM

Save

On May 7, Jinchuan Shengshui reported 1300-1500 yuan/ton, with an average price of 1400 yuan/ton...

SMM May 7th: On May 7th, Jinchuan premium reported 1300-1500 yuan/ton, with an average price of 1400 yuan/ton, an average price of 50 yuan/ton compared with the previous trading day, and a premium of -700 to -200 yuan/ton, with an average price of -450 yuan/ton, an increase of 100 yuan/ton compared with the previous trading day. This morning, the market fluctuated but the absolute price was still at a high level, the overall purchasing sentiment was still relatively restrained, and the market trading sentiment was dominated by light. Today's nickel bean price is 140,700-141,500 yuan/ton, an increase of 800 yuan/ton from the spot price of the previous trading day, and the price difference between nickel beans and nickel sulfate today is about 1,327 yuan/ton. (The price of nickel sulfate is 1327 yuan/ton lower than the price of nickel beans).

Nickel

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Apr 3, 2026 19:34

High-Grade NPI Smelters Face Profit Pressure Amid Flat Raw Material Prices and Limited Nickel Ore Decline

[SMM Nickel Flash News] Based on the cash cost of high-grade NPI calculated using nickel ore prices from 25 days earlier, profits at high-grade NPI smelters came under pressure during the week, with the sector as a whole remaining in a state of losses or marginal profitability. It is expected that next week, prices of auxiliary materials on the raw material side may remain flat, while the decline in nickel ore prices will likely be limited. High-grade NPI prices will still be under pressure amid back-and-forth negotiations between upstream and downstream, and smelter profits will be unlikely to see any significant improvement.

Apr 3, 2026 19:34

Apr 3, 2026 19:31

Refined Nickel Prices Decline, High-Grade NPI Discount Narrows; Downward Trend Expected to Continue

[SMM Nickel Flash] This week, the price center of refined nickel moved lower, while high-grade NPI prices remained stable. The average discount of high-grade NPI against refined nickel narrowed to 262.4 yuan/nickel unit. High-grade NPI prices were expected to remain under pressure next week, while refined nickel prices were expected to continue their downward trend. The average discount of high-grade NPI against refined nickel was expected to continue narrowing, and the driver for conversion of NPI to high-grade nickel matte weakened.

Apr 3, 2026 19:31

Apr 3, 2026 19:30

SMM Nickel Flash: High-Grade NPI Prices Drop, Market Enters Negotiation Phase

[SMM Nickel Flash] The average SMM price of 10-12% high-grade NPI fell WoW by 1 yuan/nickel unit to 1,082.5 yuan/nickel unit (ex-factory, tax included), while the average price of Indonesia's NPI FOB index fell WoW by $0.02/nickel unit to $136.58/nickel unit. The high-grade NPI market generally remained stable, and after the transaction center stabilized, the market entered a state of back-and-forth negotiations between upstream and downstream, with prices under pressure in the short term.

Apr 3, 2026 19:30