Nickel Prices Rose on the Day, Downstream Sentiment Worsened
Spot Market: During the day, nickel prices rose, and the session prices remained stable at high levels. The premium/discount for Jinchuan brand nickel slightly decreased in the morning but overall remained largely unchanged. Jinchuan's ex-factory prices were raised by 3,600 yuan to 130,800 yuan/mt at noon. The premium/discount for Russian nickel and domestic electrodeposited nickel plates showed little overall change. The rise in session prices and the overall stability of the premium/discount exacerbated downstream sentiment, leading to a noticeable weakening in transactions for the day.
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