Downstream Companies Hold a Wait-and-see Sentiment Toward High Spot Nickel Prices Today

SHANGHAI, Apr 21 (SMM) - On April 21, premiums of Jinchuan nickel were 4,800-5,000 yuan/mt. The average premium stood at 4,900 yuan/mt, down 750 yuan/mt from the previous trading day. NORNICKEL nickel was quoted at premiums of 4,600-4,800 yuan/mt, with an average of 4,700 yuan/mt, down 950 yuan/mt from a day ago. NORNICKEL nickel premiums stood lower than Jinchuan nickel premiums today as some spot NORNICKEL nickel will flow into the Chinese market. The spot prices still stood high, and the downstream companies held a wait-and-see sentiment. Nickel briquette prices were 193,100-194,200 yuan/mt, down 4,400 yuan/mt from the previous trading day. The nickel briquette transactions were slack as it was still traded at premiums over nickel sulphate.