SMM Nickel Market Morning Comment (Sep 12)

On September 11, Jinchuan nickel was quoted at a premium of 1,900-2,200 yuan/mt, with an average of 2,050 yuan/mt, up 250 yuan/mt from the previous trading day. Norilsk nickel was quoted at a discount of 300 yuan/mt to a premium of 100 yuan/mt, with an average discount of 100 yuan/mt, unchanged from the previous trading day. On the morning of September 11, futures fluctuated at the bottom, but the spot premium slightly rose from the previous working day. The nickel briquette prices were 119,200-119,500 yuan/mt, down 100 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 7,923 yuan/mt (nickel sulphate prices were higher than nickel briquette prices by 7,923 yuan/mt).