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Home / Metal News / SMM Nickel Market Morning Comment (Jul 31)

SMM Nickel Market Morning Comment (Jul 31)

Jul 31, 2024 09:22

Source:SMM

On July 30, Jinchuan nickel was quoted at a premium of 1,900-2,000 yuan/mt, with an average of 1,950 yuan/mt, down 200 yuan/mt compared to the previous trading day.

On July 30, Jinchuan nickel was quoted at a premium of 1,900-2,000 yuan/mt, with an average of 1,950 yuan/mt, down 200 yuan/mt compared to the previous trading day. Norilsk nickel was quoted at a discount of 0-300 yuan/mt, with an average of 150 yuan/mt, down 225 yuan/mt compared to the previous trading day. In the morning, the market fluctuated downward, and spot premiums fell significantly as the contract that quotes are based on changed (the current futures structure is contango). Nickel briquette prices were 125,600-125,900 yuan/mt, an increase of 450 yuan/mt compared to the previous trading day. The price spread between nickel briquette and nickel sulphate was about 2,659 yuan/mt (nickel sulphate prices were 2,659 yuan/mt higher than nickel briquette prices).

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