SMM Nickel Market Morning Comment (Jul 19)

On July 18, Jinchuan nickel was quoted at a premium of 1,600-1,800 yuan/mt, with an average of 1,700 yuan/mt, an increase of 150 yuan/mt compared to the previous trading day. Norilsk nickel was quoted at a discount of 100 yuan/mt to a premium of 100 yuan/mt, with an average discount and premium of 0 yuan/mt, a decrease of 50 yuan/mt compared to the previous trading day. In the morning, as the market fluctuated downward, spot premiums saw a slight increase. Some traders reported an improvement in the trading atmosphere in the spot market. Nickel briquette prices were 128,300-128,500 yuan/mt, a decrease of 2,700 yuan/mt compared to the previous trading day. The price spread between nickel briquette and nickel sulphate was about 1,045 yuan/mt (nickel sulphate prices were 1,045 yuan/mt higher than nickel briquette prices).