SMM Nickel Market Morning Comment (Sep 27)

Published: Sep 27, 2024 09:57

Source: SMM

Save

On September 26, Jinchuan nickel was quoted at a premium of 1,700-1,800 yuan/mt, with an average of 1,750 yuan/mt, up 50 yuan/mt from the previous trading day.

On September 26, Jinchuan nickel was quoted at a premium of 1,700-1,800 yuan/mt, with an average of 1,750 yuan/mt, up 50 yuan/mt from the previous trading day. Norilsk nickel was quoted at a discount of 300-200 yuan/mt, with an average of 250 yuan/mt, down 50 yuan/mt from the previous trading day. On the morning of September 26, the futures market fluctuated, and spot premiums widened compared to the previous working day. Nickel briquette prices were 127,550-127,750 yuan/mt, up 675 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 1,336 yuan/mt (nickel sulphate prices were 1,336 yuan/mt lower than nickel briquette prices).

Market review

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

2 mins ago

Baptiste Nickel Project in B.C. enters Environmental Assessment Process

FPX Nickel Corp. has initiated the environmental assessment process for its Baptiste nickel project in British Columbia after submitting a project description accepted by both provincial and federal regulators. The proposed open-pit mine is expected to take three years to build and operate for 28 years, with processing capacity increasing from 108,000 tonnes per day in the first five years to 162,000 tonnes per day from year six onward.

2 mins ago

24 mins ago

Indonesia Postpones Windfall Tax on Coal and Nickel Exports Pending Further Review

Indonesia has postponed the planned April 1 implementation of windfall taxes on coal and nickel exports, as authorities continue to review the technical details, according to Energy and Mining Minister Bahlil Lahadalia.

24 mins ago

34 mins ago

[SMM Analysis] China's Stainless Steel Futures Slip as "Silver April" Season Opens on Weak Footing

Supply glut, cautious demand, and fading cost support drag the benchmark contract down RMB 205/mt in the week of March 30 – April

34 mins ago