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Spot Pure Nickel Trading is Sluggish with the End of Downstream Companies' Stockpiling
Jan 10, 2023 17:14CST
Source:SMM
Spot traders have begun to quote over the SHFE 2302 nickel.

SHANGHAI, Jan 10 (SMM) - Spot traders have begun to quote over the SHFE 2302 nickel. On January 10, spot premiums of Jinchuan nickel were 13,500-14,000 yuan/mt, and the average premium was 13,750 yuan/mt, up 2,250 yuan/mt from the previous trading day. Premiums of NORNICKEL nickel stood at 6,900-7,300 yuan/mt. The average premium was 7,100 yuan/mt, an increase of 200 yuan/mt from the previous trading day. SHFE nickel prices fell slightly due to the news factors. The premiums grew while the spot prices trended lower. Intraday spot trading was slack with the end of the downstream companies’ stockpiling. Besides, some traders have become less willing to ship since the logistic services will be suspended near the Chinese New Year. Prices of nickel briquettes were 210,000-212,000 yuan/mt, down 5,900 yuan/mt from the previous trading day. Nickel briquette trading was sluggish as the prices were still higher than the nickel sulphate prices.

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