Nickel Prices to Drop Today

Published: Mar 3, 2023 11:28

Source: SMM

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Affected by the news concerning NORNICKEL Nickel yesterday, the spot premiums and SHFE nickel prices fell sharply.

SHANGHAI, Mar 3 (SMM) - Affected by the news concerning NORNICKEL Nickel yesterday, the spot premiums and SHFE nickel prices fell sharply, and the intraday spot transactions showed an improvement. NPI traders got high in-plant stocks, and some were eager to dump their goods. On the demand side, according to SMM research, recent stainless steel transactions have been slack, and the traders were less willing to pick up goods, pushing up the market spot supply. In general, nickel prices trended lower owing to the news front, and the spot trading picked up. SMM believes that the nickel prices will move rangebound with occasional falls.

Spot Futures Market Market

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