Spot Prices of Pure Nickel Fell Slightly, with No Significant Improvement in Transactions

SHANGHAI, Sep 14 (SMM) - In the spot market, Jinchuan nickel was quoted at premiums of 6,500-7,000 yuan/mt as of September 14, averaging at 6,750 yuan/mt, which was down 1,150 yuan/mt from the previous trading day. Premiums of NORNICKEL nickel were quoted at 3,000-3,200 yuan/mt, and the average price was 3,100 yuan/mt, down 50 yuan/mt from the prior trading day. Premiums of pure nickel continued to drop today. The futures prices dipped slightly due to the falling demand, but the spot prices remained around 195,000 yuan/mt. There was no significant improvement in spot trades as the absolute prices still hovered at a high level. In terms of nickel briquette, the spot prices were 191,300-192,300 yuan/mt, 1,450 yuan/mt lower than the previous trading day. As the cost efficiency of producing nickel sulphate with nickel briquette declined further, the trades for briquette were muted.