【SMM Nickel Daily Review】On April 18, spot discounts widened, while futures prices mainly fluctuated.

SMM Nickel April 18 News: Spot market: Today, the price of SMM 1# refined nickel was 125,850-128,750 yuan/mt, with an average price of 127,300 yuan/mt, down 1,475 yuan/mt from the previous trading day. The mainstream spot premium quotation range for Jinchuan No. 1 nickel was 2,100-2,600 yuan/mt, with an average premium of 2,350 yuan/mt, down 400 yuan/mt from the previous trading day. The premium and discount quotation range for Russian nickel was 0-300 yuan/mt, with an average premium of 150 yuan/mt, unchanged from the previous trading day. Futures market: Today, SHFE nickel futures mainly showed a fluctuating trend, with the most-traded contract closing at 125,600 yuan/mt, down 0.05%, and the intraday fluctuation range was 124,800-126,350 yuan/mt. Nickel prices may maintain a sideways movement in the range of 120,000-128,000 yuan/mt in the short term, with the cost game of Indonesia's policy implementation and high inventory suppression forming a tug-of-war between bulls and bears.