SMM Nickel Market Morning Comment (Oct 29)

On October 28, Jinchuan nickel was quoted at a premium of 1,500-1,600 yuan/mt, with an average of 1,550 yuan/mt, remaining unchanged from the previous trading day. Norilsk nickel was quoted at a discount of 300-0 yuan/mt, with an average of 150 yuan/mt, up 50 yuan/mt compared to the previous trading day. On the morning of October 28, the futures market fluctuated, and there was no significant change in spot premiums compared to the previous working day. Nickel briquette prices were 125,600-125,900 yuan/mt (out of stock), down 250 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 834 yuan/mt (nickel sulphate prices were 834 yuan/mt lower than nickel briquette prices).