SMM Nickel Market Morning Comment (Jul 11)

On July 10, Jinchuan nickel was at a premium of 1,000-1,200 yuan/mt, with an average of 1,100 yuan/mt, up 200 yuan/mt compared to the previous trading day. Russian nickel was at a discount of 0-300 yuan/mt, with an average of 150 yuan/mt, up 100 yuan/mt compared to the previous trading day. In the morning, as the market fluctuated downward, downstream purchasing sentiment resumed, and some traders reported active spot transactions. The price of nickel briquette was 132,950-133,150 yuan/mt, down 2,850 yuan/mt compared to the previous trading day. The price spread between nickel briquette and nickel sulphate was about 3,505 yuan/mt (nickel sulphate prices were 3,505 yuan/mt lower than nickel briquette prices).