SMM Nickel Market Morning Comment (Oct 22)

On October 21, Jinchuan nickel was quoted at a premium of 1,600-1,700 yuan/mt, with an average of 1,650 yuan/mt, down 50 yuan from the previous trading day. Norilsk nickel was quoted at a discount of 300-100 yuan/mt, with an average of 200 yuan/mt, unchanged from the previous trading day. On the morning of October 21, the futures market fluctuated, and there was no significant change in the spot premium compared to the previous working day. Nickel briquette prices were 128,200-128,900 yuan/mt (out of stock), up 200 yuan/mt from the previous trading days. The price spread between nickel briquette and nickel sulphate was about 930 yuan/mt (nickel sulphate prices were 930 yuan/mt lower than nickel briquette prices).