SMM to Resume the Quotations for Premiums and Discounts of 1# Jinchuan Nickel and 1# Imported Nickel

SHANGHAI, Apr 28 (SMM) - Affected by the extreme price volatility in LME nickel market, SHFE nickel also fluctuated greatly and was obviously deviated from the fundamentals, which weakened the guidance for spot prices. As a result, SMM suspended the quotations for premiums and discounts of 1# Jinchuan nickel and 1# imported nickel from March 25, 2022.

However, SHFE nickel prices have gradually stabilised and has been less affected by movement of LME nickel recently. At the same time, upstream and downstream manufacturers are calling for quotations to resume. Therefore, SMM will resume the quotations for premiums and discounts of 1# Jinchuan nickel and 1# imported nickel from April 28, 2022.