SMM Nickel Market Morning Comment (Oct 8)

Published: Oct 8, 2024 09:58

Source: SMM

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On September 30, Jinchuan nickel was quoted at a premium of 1,300-1,500 yuan/mt, with an average of 1,400 yuan/mt, down 350 yuan/mt from the previous trading day.

On September 30, Jinchuan nickel was quoted at a premium of 1,300-1,500 yuan/mt, with an average of 1,400 yuan/mt, down 350 yuan/mt from the previous trading day. Norilsk nickel was quoted at a discount of 600-200 yuan/mt, with an average of 400 yuan/mt, down 150 yuan/mt from the previous trading day. On the morning of September 30, the futures market was significantly boosted by the macro front, and the spot premium spread continued to widen. Nickel briquette prices were 131,200-131,500 yuan/mt, up 3,775 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 4,282 yuan/mt (nickel sulphate prices were 4,282 yuan/mt lower than nickel briquette prices).

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