Nickel Prices Fluctuate in Early Trading with Mixed Trends [SMM Nickel Spot Midday Review]

Published: Mar 17, 2025 13:41

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【Nickel Prices Fluctuated in Early Trading】The mainstream spot premiums quotation range for Jinchuan Nickel No.1 was 1,300-1,500 yuan/mt, with an average premium of 1,400 yuan/mt, up by 150 yuan/mt compared to 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, remaining unchanged from the previous trading day.

SMM March 17 News:

Spot Premiums/Discounts: The mainstream spot premium quotation range for Jinchuan No.1 nickel was 1,300-1,500 yuan/mt, with an average premium of 1,400 yuan/mt, up by 150 yuan/mt compared to the previous trading day. The quotation range for Russian nickel premiums and discounts was -200 to 0 yuan/mt, with an average discount of -100 yuan/mt, remaining unchanged from the previous trading day.

Futures: Nickel prices showed a fluctuating trend after opening today. As of 11:30, the closing price was 132,930 yuan/mt, down 0.51% from the previous trading day's settlement price, with a high of 134,070 yuan/mt.

Spot Premiums/Discounts: Jinchuan brand nickel rose by 150 yuan compared to the previous trading day. End-users restocked based on rigid demand, coupled with a slight decline in futures prices, ultimately driving the increase in spot premiums.

From a technical perspective, SHFE nickel futures contracts showed mixed trends after opening, with sentiment still dominating nickel price movements.

Price Spread with Nickel Sulphate: Today, nickel briquette prices were 132,200-132,700 yuan/mt, with an average price of 132,450 yuan/mt, down by 1,175 yuan/mt compared to the previous trading day's spot price. Nickel sulphate remained at a discount to refined nickel.

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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