SMM Nickel Market Morning Comment (Oct 23)

On October 22, Jinchuan nickel was quoted at a premium of 1,600-1,700 yuan/mt, with an average of 1,650 yuan/mt, remaining unchanged from the previous trading day. Norilsk nickel was quoted at a discount of 300-100 yuan/mt, with an average of 200 yuan/mt, also unchanged from the previous trading day. On the morning of October 22, the futures market fluctuated downward, and the spot premium showed no significant change compared to the previous working day. Nickel briquette prices were 126,100-126,700 yuan/mt (out of stock), down 2,150 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 518 yuan/mt (nickel sulphate prices were 518 yuan/mt higher than nickel briquette prices).