SMM Nickel Market Morning Comment (Sep 24)

On September 23, Jinchuan nickel was quoted at a premium of 1,700-1,800 yuan/mt, with an average of 17,500 yuan/mt, unchanged from the previous trading day. Norilsk nickel was quoted at a discount of 300-100 yuan/mt, with an average of 200 yuan/mt, up 50 yuan/mt from the previous trading day. On the morning of September 23, the futures market fluctuated, and spot premiums narrowed compared to the previous working day. Nickel briquette prices were 123,100-123,800 yuan/mt, down 425 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was approximately 3,414 yuan/mt (nickel sulphate prices were 3,414 yuan/mt higher than nickel briquette prices).