SMM Nickel Market Morning Comment (Aug 6)

On August 5, Jinchuan nickel was quoted at a premium of 1,500-1,700 yuan/mt, with an average of 1,600 yuan/mt, flat compared to the previous trading day. Norilsk nickel was quoted at a discount of 200 yuan/mt to a premium of 200 yuan/mt, with an average of 0 yuan/mt, up 50 yuan/mt from the previous trading day. In the morning, the market fluctuated, and spot premiums showed little change compared to the previous working day. Nickel briquette prices were 127,900-128,200 yuan/mt, down 350 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 1,913 yuan/mt (nickel sulphate prices were 1,913 yuan/mt lower than nickel briquette prices).