SMM Nickel Market Morning Comment (Nov 13)

On November 12, Jinchuan nickel was quoted at a premium of 1,800-2,000 yuan/mt, with an average of 1,900 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 12, the futures market fluctuated downward, and the spot market premium saw a slight increase compared to the previous working day. Nickel briquette prices were 127,250-127,950 yuan/mt (out of stock), down 150 yuan/mt compared to the previous trading day. The price spread between nickel sulphate and nickel briquette was about 4,305 yuan/mt (nickel sulphate prices were 4,305 yuan/mt lower than nickel briquette prices).