SMM Nickel Market Morning Comment (Aug 2)

On August 1, Jinchuan nickel was quoted at a premium of 1,400-1,800 yuan/mt, with an average of 1,600 yuan/mt, down 200 yuan/mt compared to 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, flat compared to the previous trading day. In the morning, as the market rose sharply, spot premiums were generally adjusted downward. Nickel briquette prices were 130,600-130,800 yuan/mt, an increase of 1,100 yuan/mt compared to the previous trading day. The price spread between nickel briquette and nickel sulphate was about 4,336 yuan/mt (nickel sulphate prices were 4,336 yuan/mt lower than nickel briquette prices).