SMM Nickel Market Morning Comment (Oct 24)

On October 23, Jinchuan nickel was quoted at a premium of 1,500-1,700 yuan/mt, with an average of 1,600 yuan/mt, down 50 yuan/mt from the previous trading day. Norilsk nickel was quoted at a discount of 200-100 yuan/mt, with an average of 150 yuan/mt, up 50 yuan/mt from the previous trading day. On the morning of October 23, the futures market fluctuated, and there was no significant change in the spot premium compared to the previous working day. Nickel briquette prices were 126,100-126,500 yuan/mt (out of stock), down 100 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 482 yuan/mt (nickel sulphate prices were 482 yuan/mt lower than nickel briquette prices).