SMM Nickel Market Morning Comment (Sep 19)

On September 18, Jinchuan nickel was quoted at a premium of 1,700-2,000 yuan/mt, with an average of 1,850 yuan/mt, up 150 yuan/mt from the previous trading day. Norilsk nickel was quoted at a discount of 250-100 yuan/mt, with an average of 175 yuan/mt, up 125 yuan/mt from the previous trading day. On the morning of September 18, the futures market fluctuated, and spot premiums slightly narrowed compared to the previous working day. Nickel briquette prices were 121,550-122,250 yuan/mt, down 175 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 4,906.82 yuan/mt (nickel sulphate prices were 4,906.82 yuan/mt higher than nickel briquette prices).