In the morning, Shanghai nickel fluctuated at a high level, and the price gap between nickel beans and nickel sulfate narrowed

Published: Apr 21, 2024 15:18
Source: SMM
Jinchuan premium was reported at 2200-2300 yuan/ton, with an average price of 2250 yuan/ton, and the average price was 50 yuan/ton lower than the previous trading day, and the Russian nickel premium was quoted at -500 to -200 yuan/ton, with an average price of -350 yuan/ton, and the average price was 50 yuan/ton lower than the previous trading day...

Jinchuan premium was reported at 2200-2300 yuan/ton, with an average price of 2250 yuan/ton, an average price of 50 yuan/ton compared with the previous trading day, and a premium of -500 to -200 yuan/ton for Russian nickel, with an average price of -350 yuan/ton, and an average price of 50 yuan/ton compared with the previous trading day. Today's morning market was affected by the night market rally, and the spot market was affected by nickel prices and was fully stocked in the early stage, and today's transaction was overall light. Today's nickel bean price is 133,500-133,750 yuan/ton, an increase of 2,225 yuan/ton from the spot price of the previous trading day, and the price difference between nickel beans and nickel sulfate today is about 4,102 yuan/ton. (The price of nickel sulfate is 4102 yuan/ton higher than the price of nickel beans).

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Indonesian MHP Nickel Prices Rise, Cobalt Falls; High-Grade Nickel Matte Up
34 mins ago
Indonesian MHP Nickel Prices Rise, Cobalt Falls; High-Grade Nickel Matte Up
Read More
Indonesian MHP Nickel Prices Rise, Cobalt Falls; High-Grade Nickel Matte Up
Indonesian MHP Nickel Prices Rise, Cobalt Falls; High-Grade Nickel Matte Up
According to SMM data, on April 27, the FOB price of Indonesian MHP nickel rose $45/mt Ni WoW, while the FOB price of Indonesian MHP cobalt fell $50/mt Co. The FOB price of Indonesian high-grade nickel matte rose $45/mt Ni from the previous day.
34 mins ago
SMM Data: Battery-Grade Nickel Sulphate Price Surges 575 Yuan/mt WoW on April 27
39 mins ago
SMM Data: Battery-Grade Nickel Sulphate Price Surges 575 Yuan/mt WoW on April 27
Read More
SMM Data: Battery-Grade Nickel Sulphate Price Surges 575 Yuan/mt WoW on April 27
SMM Data: Battery-Grade Nickel Sulphate Price Surges 575 Yuan/mt WoW on April 27
According to SMM data, on April 27, the SMM battery-grade nickel sulphate average price rose sharply by 575 yuan/mt WoW.
39 mins ago
[SMM Nickel Market Flash] Nickel Hits Near Two-Year Intraday High on Indonesia Curbs and Sulfur Shortage
1 hour ago
[SMM Nickel Market Flash] Nickel Hits Near Two-Year Intraday High on Indonesia Curbs and Sulfur Shortage
Read More
[SMM Nickel Market Flash] Nickel Hits Near Two-Year Intraday High on Indonesia Curbs and Sulfur Shortage
[SMM Nickel Market Flash] Nickel Hits Near Two-Year Intraday High on Indonesia Curbs and Sulfur Shortage
LME nickel climbed to its highest intraday level in nearly two years as Indonesia’s mining quota cuts and a global sulfur shortage tightened the supply outlook. Since the start of the Iran war, nickel futures have risen by about 10%, with surging sulfur prices fueling concerns over disruptions to Indonesian MHP production and copper leaching operations in Africa. LME nickel briefly reached $19,350/t, the highest level since June 2024. Current market sentiment remains firm, with traders focusing on tighter Indonesian supply expectations and the potential impact of sulfur shortages on hydromet nickel intermediate production.
1 hour ago