Losses of Imported NORNICKEL Nickel Expanded and Premiums of Jinchuan and NORNICKEL Nickel Declined Significantly

SHANGHAI, Jan 4 (SMM) - In the spot market, the most traded SHFE nickel contract changed to SHFE 2302 contract. The premiums of Jinchuan nickel were quoted at 4,500-7,500 yuan/mt, with an average price of 6,000 yuan/mt, down 2,650 yuan/mt from the previous trading day. NORNICKEL nickel was quoted at premiums of 6,500-7,000 yuan/mt, with an average of 6,750 yuan/mt, down 1,550 yuan/mt from a day ago. Affected by the soaring LME nickel prices, the losses of imported NORNICKEL nickel continued to expand. And the premiums of Jinchuan and NORNICKEL nickel fell greatly.

In terms of nickel briquette, the prices were 236,300-238,000 yuan/mt, an increase of 3,200 yuan/mt from a day ago. The nickel briquette prices were still higher than that of nickel sulphate, hence the spot transaction of nickel briquette was weak.