SMM Nickel Market Morning Comment (Oct 10)

On October 9, Jinchuan nickel was quoted at a premium of 1,300-1,500 yuan/mt, with an average of 1,400 yuan/mt, unchanged from the previous trading day. Norilsk nickel was quoted at a discount of 400-200 yuan/mt, with an average of 300 yuan/mt, up 50 yuan/mt from the previous trading day. On the morning of October 9, futures prices fell, and the spot premium spread remained stable overall. Nickel briquette prices were 134,200-134,600 yuan/mt, down 350 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was approximately 6,786 yuan/mt (nickel sulphate prices were 6,786 yuan/mt lower than nickel briquette prices).