SMM Nickel Market Morning Comment (Oct 17)

On October 16, Jinchuan nickel was quoted at a premium of 1,300-1,600 yuan/mt, with an average of 1,450 yuan/mt, up 100 yuan/mt from the previous trading day. Norilsk nickel was quoted at a discount of 400-150 yuan/mt, with an average of 275 yuan/mt, up 25 yuan/mt from the previous trading day. On the morning of October 16, the futures market fluctuated, and spot premiums narrowed compared to the previous working day. Nickel briquette prices were 132,370-132,800 yuan/mt (in short supply), down 1,215 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 4,405 yuan/mt (nickel sulphate prices were 4,405 yuan/mt lower than nickel briquette prices).