Nickel Prices Skyrocket Again, Weakening Spot Market Transactions

Nickel Prices Surge Again, Spot Market Transactions Weaken

Spot market: Yesterday's adjustment in Indonesia's nickel resource policy, coupled with favorable domestic macro policies, led to a significant rise in SHFE nickel today, driving the non-ferrous metals sector and reaching a price level with strong resistance. Regarding spot premiums/discounts, the supply of Jinchuan brand nickel in the spot market was relatively tight this week, with premiums continuing to climb, while changes in other brands of nickel plates were relatively small. Influenced by the rising nickel prices, spot transactions weakened on the day.