SMM Nickel Market Morning Comment (Sep 26)

On September 25, Jinchuan nickel was reported at a premium of 1,600-1,800 yuan/mt, with an average of 1,700 yuan/mt, down 50 yuan/mt 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 25 yuan/mt from the previous trading day. On the morning of September 25, the futures market fluctuated, and spot premiums narrowed compared to the previous working day. Nickel briquette prices were 126,750-127,200 yuan/mt, up 2,550 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was approximately 111.36 yuan/mt (nickel sulphate prices were 111.36 yuan/mt lower than nickel briquette prices).