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).
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.
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.
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