SMM Nickel Market Morning Comment (Oct 15)

On October 14, Jinchuan nickel was quoted at a premium of 1,400-1,500 yuan/mt, with an average price of 1,450 yuan/mt, down 50 yuan/mt from the previous trading day. Norilsk nickel was quoted at a discount of 400-200 yuan/mt, with an average of 300 yuan/mt, unchanged from the previous trading day. On the morning of October 14, the futures market fluctuated, and spot premiums widened compared to the previous working day. Nickel briquette prices were 133,800-134,350 yuan/mt, up 125 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was approximately 6,006.82 yuan/mt (nickel sulphate prices were 6,006.82 yuan/mt lower than nickel briquette prices).