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Home / Metal News / [SMM Nickel Spot Market Midday Review] [Shanghai nickel continues its downward trend

[SMM Nickel Spot Market Midday Review] [Shanghai nickel continues its downward trend

Mar 29, 2024 11:44

Source:SMM

Shanghai nickel continues its downward trend today, with the price difference between nickel beans and nickel sulfate widening to 13,000 yuan/ton.

SMM News, March 28th:

On March 28th, JinChuan offered a premium of 2,700-3,000 yuan/ton, with an average of 2,850 yuan/ton, an increase of 450 yuan/ton compared to the previous trading day. Russian nickel offered a premium of -500 to 0 yuan/ton, with an average of -250 yuan/ton, an increase of 100 yuan/ton compared to the previous trading day. Shanghai nickel continued its downward trend in early trading today. The spot market had a relatively good trading atmosphere, and downstream purchasing intentions began to recover due to the impact of their own raw material inventories. In addition, according to SMM research, this week, influenced by the arrival rhythm of overseas nickel plates, the supply showed an increasing trend. Today, the price of nickel beans is 125,600-126,600 yuan/ton, a decrease of 350 yuan/ton compared to the previous trading day. The price difference between nickel beans and nickel sulfate is approximately 13,673 yuan/ton. (The price of nickel sulfate is 13,673 yuan/ton higher than that of nickel beans).

Nickel

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