SMM Nickel Market Morning Comment (Nov 19)

On November 18, Jinchuan nickel was quoted at a premium of 2,200-2,500 yuan/mt, with an average of 2,350 yuan/mt, up 300 yuan/mt compared to the previous trading day. Norilsk nickel was quoted at a discount of 200 yuan/mt to a premium of 100 yuan/mt, with an average discount of 50 yuan/mt, up 50 yuan/mt compared to the previous trading day. On the morning of November 18, the futures market fluctuated upward, and the spot market premium saw a significant increase compared to the previous working day. Nickel briquette prices were 122,900-123,300 yuan/mt (out of stock), down 50 yuan/mt compared to the previous trading day. The price spread between nickel sulphate and nickel briquette was about 1,964 yuan/mt (nickel sulphate prices were 1,964 yuan/mt lower than nickel briquette prices).