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.
