SMM Nickel Market Morning Comment (Nov 5)

Published: Nov 05, 2024 09:18 (GMT+8)

Source: SMM

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On November 4, Jinchuan nickel was quoted at a premium of 1,600-1,800 yuan/mt, with an average of 1,700 yuan/mt, remaining flat compared to the previous trading day.

On November 4, Jinchuan nickel was quoted at a premium of 1,600-1,800 yuan/mt, with an average of 1,700 yuan/mt, remaining flat compared to the previous trading day. Norilsk nickel was quoted at a discount of 400-100 yuan/mt, with an average of 250 yuan/mt, also remaining flat compared to the previous trading day. On the morning of November 4, the futures market fluctuated, and there was no significant change in spot premiums compared to the previous working day. Nickel briquette prices were 123,900-124,200 yuan/mt (out of stock), up 1,150 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 268 yuan/mt (nickel sulphate prices were 268 yuan/mt higher than nickel briquette prices).

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