SMM Nickel Market Morning Comment (Aug 1)

On July 31, Jinchuan nickel was quoted at a premium of 1,600-2,000 yuan/mt, with an average of 1,800 yuan/mt, down 150 yuan/mt from the previous trading day. Norilsk nickel was quoted at a discount of 300 yuan/mt to a premium of 200 yuan/mt, with an average discount of 50 yuan/mt, up 100 yuan/mt from the previous trading day. In the morning, as the market rose sharply, spot premiums were generally lowered. Nickel briquette prices were 129,550-129,650 yuan/mt, an increase of 3,850 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 3,236 yuan/mt (nickel sulphate prices were 3,236 yuan/mt lower than nickel briquette prices).