SMM December 30 News:
Spot Premiums/Discounts: The mainstream spot premiums for Jinchuan No.1 nickel were quoted in the range of 3,400-3,500 yuan/mt, with an average premium of 3,450 yuan/mt, down 50 yuan compared to the previous trading day. Russian nickel premiums/discounts were quoted in the range of 0 to 100 yuan/mt, with an average premium of -50 yuan/mt, up 100 yuan compared to the previous trading day.
Futures: In the morning, nickel prices fluctuated at low levels, falling 1,200 yuan to 124,540 yuan, down 0.95%.
Nickel prices experienced sideways movement today, down compared to the previous trading day. Premiums for Jinchuan-branded nickel remained largely stable overall, but with the gradual digestion of short-term supply tightening sentiment by the market, premiums showed slight loosening. Spot premiums/discounts for nickel plates of other brands were largely stable throughout the month. As the year-end approached, overall market transactions were sluggish.
Regarding the price spread with nickel sulphate: Nickel briquette prices were at 123,600-124,000 yuan/mt today, down 1,550 yuan/mt compared to the previous trading day's spot prices. Nickel sulphate remained at a discount to refined nickel.
![[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)
