SMM Nickel Market Morning Comment (Oct 25)

On October 24, Jinchuan nickel was quoted at a premium of 1,600-1,700 yuan/mt, with an average of 1,650 yuan/mt, up 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, unchanged from the previous trading day. On the morning of October 24, the futures market fluctuated, and there was no significant change in the spot premium compared to the previous working day. Nickel briquette prices were 125,600-126,000 yuan/mt (out of stock), down 500 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 459 yuan/mt (nickel sulphate prices were 459 yuan/mt lower than nickel briquette prices).