Pure Nickel Spot Trading was Slack amid the High Futures Prices

Published: Aug 01, 2022 11:39 (GMT+8)

Source: SMM

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On August 1, spot premiums of Jinchuan nickel were 12,000-13,000 yuan/mt, with the average price standing at 12,500 /mt, up 6,250 yuan/mt from the previous trading day.

SHANGHAI, Aug 1 (SMM) - On August 1, spot premiums of Jinchuan nickel were 12,000-13,000 yuan/mt, with the average price standing at 12,500 /mt, up 6,250 yuan/mt from the previous trading day. Premiums of NORNICKEL nickel stood at 11,500-12,000 yuan/mt. The average price was 11,750 yuan/mt, an increase of 7,600 yuan/mt from the previous trading day. Today, the contract was switched to the SHFE 2209 nickel contract, and affected by the high nickel prices, the spot trading was slack. The prices of nickel briquettes were 188,600-189,600 yuan/mt, up 10,600 yuan/mt from the previous trading day. The nickel briquettes trading was slack as the futures prices rose and the cost efficiency of nickel briquettes was lower. Besides, at present, the mainstream raw material of alloy is still nickel plate, further leading to the poor nickel briquettes trading.

Spot Market

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