SHANGHAI, Jan 19 (SMM) - In the spot market, the most traded SHFE nickel contract changed to SHFE 2302 contract. The premiums of Jinchuan nickel were quoted at 11,000-12,000 yuan/mt, with an average price of 11,500 yuan/mt, up 1,000 yuan/mt from the previous trading day. NORNICKEL nickel was quoted at premiums of 5,500-6,500 yuan/mt, with an average of 6,000 yuan/mt, down 700 yuan/mt from a day ago. Affected by funds, SHFE nickel prices rose. Although the premiums fell, the spot prices rebounded. In terms of nickel briquette, the prices were 215,900-216,900 yuan/mt, an increase of 6,500 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.
Nickel Prices Rebounded and Spot Transactions were Thin
In the spot market, the most traded SHFE nickel contract changed to SHFE 2302 contract.
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