In the morning, nickel prices plummeted significantly, and the price difference between nickel beans and nickel salts narrowed. [SMM Nickel Spot Review]

SMM News on May 23rd: On May 23rd, Jinchuan premium was quoted at 1000-1200 yuan/ton, with an average price of 1100 yuan/ton, an increase of 400 yuan/ton compared to the previous trading day. Russian nickel premium was quoted at -600 to -300 yuan/ton, with an average price of -450 yuan/ton, which remained unchanged compared to the previous trading day. This morning, the market saw a significant decline with the overall trend of non-ferrous metals, and the spot market transactions have rebounded to some extent compared to before, but still mainly focused on essential procurement. Today, the price of nickel beans is 149000-149800 yuan/ton, a decrease of 5050 yuan/ton from the previous trading day's spot price. The price difference between nickel beans and nickel sulfate today is about 2582 yuan/ton. The price of nickel sulfate is 2582 yuan/ton lower than that of nickel beans.