Home / Metal News / Nickel Prices Rose Today (3.1) [SMM Nickel Spot Midday Review]

Nickel Prices Rose Today (3.1) [SMM Nickel Spot Midday Review]

iconMar 10, 2025 13:42
Source:SMM
【Nickel Prices Rose in Early Trading Today, Fluctuating Considerably in the Short Term】The mainstream spot premiums quotation range for Jinchuan Nickel No.1 was 1,200-1,500 yuan/mt, with an average premium of 1,350 yuan/mt, down 75 yuan/mt from the previous trading day. The premiums and discounts quotation range for Russian nickel was -200 to 0 yuan/mt, with an average discount of -100 yuan/mt, down 50 yuan/mt from the previous trading day.

SMM March 10 News:

Spot premiums and discounts: The mainstream spot premium quotation range for Jinchuan No. 1 nickel was 1,200-1,500 yuan/mt, with an average premium of 1,350 yuan/mt, down 75 yuan/mt from the previous trading day. The premium and discount quotation range for Russian nickel was -200 to 0 yuan/mt, with an average discount of -100 yuan/mt, down 50 yuan from the previous trading day.

Futures: Nickel prices rose after the opening today. As of the 11:30 closing price, it stood at 131,339 yuan/mt, up 1.46% from the previous trading day's settlement price, with a high of 132,500 yuan/mt.

Spot premiums and discounts: Jinchuan brand nickel fell by 75 yuan compared to the previous trading day. Demand recovery remained weaker than market expectations, and traders lowered prices to boost spot market transactions.

From a technical perspective and in terms of market sentiment, SHFE nickel futures contracts performed strongly, with recent market sentiment being relatively positive. Sentiment continues to play a dominant role in influencing prices.

In terms of the price spread with nickel sulphate: Today, nickel briquette prices were 131,100-131,400 yuan/mt, with an average price of 131,250 yuan/mt, up 3,400 yuan/mt from the previous day's spot price. Nickel sulphate remains at a discount to refined nickel.

For queries, please contact William Gu at williamgu@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

SMM Events & Webinars

All