SMM Nickel Market Morning Comment (Nov 12)

On November 11, Jinchuan nickel was quoted at a premium of 1,700-1,900 yuan/mt, with an average of 1,800 yuan/mt, up 100 yuan/mt 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, remaining flat compared to the previous trading day. On the morning of November 8, the futures market fluctuated downward, and spot market premiums saw a slight increase compared to the previous working day. Nickel briquette prices were 127,300-128,200 yuan/mt (in short supply), down 1,825 yuan/mt compared to the previous trading day. The price spread between nickel sulphate and nickel briquette was approximately 4,341 yuan/mt (nickel sulphate prices were 4,341 yuan/mt lower than nickel briquette prices).