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Spot Prices of Pure Nickel were Still High and the Transactions were Poor
Aug 3, 2022 11:33CST
Source:SMM
In the spot market, on Aug 3, Jinchuan nickel were quoted at 8,500-9,000 yuan/mt, with an average price of 8,750 yuan/mt, down 750 yuan/mt from the previous trading day. NORNICKEL nickel was quoted at 7,800-8,500 yuan/mt, and the average price was 8,150 yuan/mt, down 600 yuan/mt from the previous trading day.

SHANGHAI, Aug 3 (SMM) - In the spot market, on Aug 3, Jinchuan nickel were quoted at 8,500-9,000 yuan/mt, with an average price of 8,750 yuan/mt, down 750 yuan/mt from the previous trading day. NORNICKEL nickel was quoted at 7,800-8,500 yuan/mt, and the average price was 8,150 yuan/mt, down 600 yuan/mt from the previous trading day.

The premiums of pure nickel continued to fall. As the spot prices of pure nickel were still high amid the high futures prices, most enterprises were wait-and-see. Therefore, the spot transactions were poor.

In terms of nickel briquette, the price of nickel briquette was 180,200-180,900 yuan/mt, down 3,500 yuan from yesterday, mainly because the premiums narrowed. In addition, as the economy effectiveness of nickel briquette was lower than intermediate products and nickel plates were currently the mainstream alloys raw materials nickel plate, the spot transaction of nickel briquette was poor.

Macro

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