SMM Nickel Market Morning Comment (Nov 8)

On November 7, Jinchuan nickel was quoted at a premium of 1,700-1,800 yuan/mt, with an average of 1,750 yuan/mt, remaining flat compared to the previous trading day. Norilsk nickel was quoted at a discount of 400-0 yuan/mt, with an average of 200 yuan/mt, also remaining flat compared to the previous trading day. On the morning of November 7, the futures market fluctuated upward, and there was no significant change in spot market premiums compared to the previous working day. Nickel briquette prices were 126,050-126,350 yuan/mt (out of stock), up 575 yuan/mt from the previous trading day. The price spread between nickel sulphate and nickel briquette was approximately 2,223 yuan/mt (nickel sulphate prices were 2,223 yuan/mt lower than nickel briquette prices).