Nickel Prices Hovered at Highs with Poor Trades

Published: Sep 7, 2022 13:19

Source: SMM

Save

In the spot market, Jinchuan nickel was quoted at premiums of 11,000-10,500 yuan/mt as of September 7, averaging at 10,250 yuan/mt, which was down 250 yuan/mt from a day ago.

SHANGHAI, Sep 7 (SMM) - In the spot market, Jinchuan nickel was quoted at premiums of 11,000-10,500 yuan/mt as of September 7, averaging at 10,250 yuan/mt, which was down 250 yuan/mt from a day ago. Premiums of NORNICKEL nickel were quoted at 3,700-4,200 yuan/mt, and the average price was 3,950 yuan/mt, down 300 yuan/mt from the last trading day. The slight fall in spot premiums was attributed to high futures prices and the improvement in tight spot supply. The market trades today were relatively poor. The prices of nickel briquette stood at 176,600-17,7200 yuan/mt, down 750 yuan/mt from the previous trading day. Since the profit of nickel sulphate produced by self-dissolved nickel briquette has improved, and steel mills are expected to resume the production soon, the demand for nickel briquette is likely to pick up.

Spot

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

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

Related News

21 hours ago

[SMM Stainless Steel Flash] Xinfeng Special Steel’s Phase II Bright Annealing Line Successfully Produces First Coil

On February 8, the 6# line of the Phase II Bright Annealing (BA) unit at Xinfeng Special Steel’s cold continuous rolling stainless steel project successfully produced its first coil, with the 304-series material meeting qualification standards on its initial run. General contracted by WISDRI (South China) Thermal Engineering, the Phase II project utilizes a domestic-first four-stage horizontal bright annealing unit design, featuring the longest muffle and largest TV (Tension-Velocity) capacity in China. As a key component of Xinfeng’s strategy to build a green, intelligent factory, the line reached production capacity immediately upon commissioning and is currently undergoing further optimization and debugging to produce high-grade BA plates and tube-making stock.

21 hours ago

[SMM Stainless Steel Flash] TISCO’s Self-Developed SUS630 Stainless Steel Plates Break Import Monopoly in PCB Sector

According to TISCO (Shanxi Taigang), its independently developed SUS630 precipitation-hardening stainless steel cold-rolled plates are now being supplied steadily to domestic Printed Circuit Board (PCB) manufacturers. Throughout the recent holiday period, the company's R&D and production teams maintained strict quality control to ensure the material meets the rigorous standards required for 5G communications, automotive electronics, and medical devices. As a core material for the hot lamination process in PCB manufacturing, SUS630 was long dependent on foreign imports; however, TISCO has now become the only stable domestic supplier, successfully breaking the technical blockade.

21 hours ago

[SMM Stainless Steel Flash] Wenzhou Yigang’s 700-ton Precision Tube Project Receives EIA Approval

The Wenzhou Municipal Bureau of Ecology and Environment officially issued and announced its approval decision regarding the Environmental Impact Assessment (EIA) for Wenzhou Yigang Steel Co., Ltd.’s project. The approved project involves the annual processing of 700 tons of precision stainless steel tubes. This regulatory milestone clears a major legal hurdle for the facility, allowing the company to move forward with the construction and subsequent operation of its precision tube production capacity in line with regional environmental standards.

21 hours ago