SMM Nickel Market Morning Comment (Nov 20)

On November 19, Jinchuan nickel was quoted at a premium of 2,200-2,500 yuan/mt, with an average of 2,350 yuan/mt, remaining unchanged from the previous trading day. Norilsk nickel was quoted at a discount of 150 yuan/mt to a premium of 100 yuan/mt, with an average discount of 25 yuan/mt, up 25 yuan/mt from the previous trading day. On the morning of November 19, the futures market fluctuated, and there was no significant change in spot market premiums compared to the previous working day. Nickel briquette prices were 124,300-124,650 yuan/mt (out of stock), up 1,375 yuan/mt from the previous trading day. The price spread between nickel sulphate and nickel briquette was approximately 3,566 yuan/mt (nickel sulphate prices were 3,566 yuan/mt lower than nickel briquette prices).