Home / Metal News / Nickel / Price spread between Jinchuan, Norilsk widens to largest in three years
Price spread between Jinchuan, Norilsk widens to largest in three years
Sep 5,2018 14:52CST
price review forecast
Source:SMM
Oversupplies of Norilsk, shortages of Jinchuan materials grew the spread to 5,600 yuan/mt

SHANGHAI, Sep 5 (SMM) – An oversupply of Norilsk materials and shortage of Jinchuan materials expanded the price spread between Jinchuan and Norilsk nickel to its largest in close to three years on Wednesday September 5, SMM research found.

Relative to the Wuxi Stainless Steel Exchange September contract, premiums of Norilsk nickel were heard at 100 yuan/mt in the Shanghai market while premiums of Jinchuan resources were heard at 5,700 yuan/mt. The producer of Jinchuan materials offered at 108,300 yuan/mt.

Supplies exceeded demand as large amounts of Norilsk materials entered the domestic market. Meanwhile, limited supplies and weaker prices of futures buoyed premiums of Jinchuan materials.

Shanghai saw quiet trades on Tuesday and Wednesday after downstream consumers made purchases on Monday. Most transactions were heard at 102,350-108,250 yuan/mt on Wednesday.

Market commentary
Nickel

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news