SMM Nickel Market Morning Comment (Sep 3)

On September 2, Jinchuan nickel was quoted at a premium of 800-1,000 yuan/mt, with an average of 900 yuan/mt, up 100 yuan/mt from the previous trading day. Norilsk nickel was quoted at a discount of 500-100 yuan/mt, with an average discount of 300 yuan/mt, up 100 yuan/mt from the previous trading day. The futures market saw a downward trend with increased positions, but the spot market premiums fluctuated slightly compared to the previous working day. The nickel briquette prices were 125,700-125,900 yuan/mt, down 3,900 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 2,245 yuan/mt (nickel sulphate prices were 2,245 yuan/mt higher than nickel briquette prices).