SHFE Nickel Gained Ground, Spot Nickel Prices Rose in Tandem

Published: Jan 31, 2023 13:34

Source: SMM

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Quotes for spot pure nickel were made against the SHFE 2303 nickel contract today.

SHANGHAI, Jan 31 — Quotes for spot pure nickel were made against the SHFE 2303 nickel contract today.

On January 31, premiums of Jinchuan nickel stood at 8,000-9,000 yuan/mt, with an average premium of 8,500 yuan/mt, 2,000 yuan/mt lower than yesterday. The premiums of Nornickel nickel were quoted at 7,500-9,000 yuan/mt, with an average of 8,250 yuan/mt, up 2,500 yuan/mt.

SHFE nickel prices remained high in the morning. Spot premiums dipped but the absolute spot prices were still high.

Spot prices of nickel briquette rose 2,650 yuan/mt to 228,700-229,200 yuan/mt, and the cost-efficiency of nickel sulphate production using nickel briquette remained low. And the spot transactions were weak.

Futures

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