SMM Nickel Market Morning Comment (Sep 25)

On September 24, Jinchuan nickel was quoted at a premium of 1,700-1,800 yuan/mt, with an average of 1,750 yuan/mt, remaining unchanged from the previous trading day. Norilsk nickel was quoted at a discount of 350-100 yuan/mt, with an average of 225 yuan/mt, down 25 yuan/mt from the previous trading day. On the morning of September 24, the futures market fluctuated, and spot premiums narrowed compared to the previous working day. Nickel briquette prices were 124,250-124,600 yuan/mt, up 975 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was approximately 2,213 yuan/mt (nickel sulphate prices were 2,213 yuan/mt higher than nickel briquette prices).