SMM Nickel Market Morning Comment (Jul 26)

On July 25, Jinchuan nickel was quoted at a premium of 2,100-2,200 yuan/mt, with an average of 2,150 yuan/mt, an increase of 250 yuan/mt compared to the previous trading day. Norilsk nickel was quoted at a discount of 50 yuan/mt to a premium of 200 yuan/mt, with an average premium of 75 yuan/mt, an increase of 50 yuan/mt compared to the previous trading day. In the morning, as the market fluctuated downward, spot premiums saw a slight increase. Nickel briquette prices were 123,000-123,200 yuan/mt, a decrease of 3,550 yuan/mt compared to the previous trading day. The price spread between nickel briquette and nickel sulphate was approximately 6,445 yuan/mt (nickel sulphate prices were 6,445 yuan/mt higher than nickel briquette prices).