【4.24 Morning Meeting Minutes】Spot Market: Today, the price of SMM #1 refined nickel was 125,700-128,150 yuan/mt, with an average price of 126,925 yuan/mt, up by 225 yuan/mt compared to the previous trading day. The mainstream spot premium quotation range for Jinchuan #1 nickel was 2,100-2,400 yuan/mt, with an average premium of 2,250 yuan/mt, unchanged from the previous trading day. The premium and discount quotation range for Russian nickel was 200-300 yuan/mt, with an average premium of 250 yuan/mt, up by 100 yuan/mt compared to the previous trading day.

[SMM Daily Review: Market Sentiment Heavily Contested with Thin Trading, Short-Term High-Grade NPI Prices May Remain in the Doldrums] April 23 - The average price of SMM 8-12% high-grade NPI was 974 yuan/mtu (ex-factory, tax included), down 2 yuan/mtu from the previous working day...

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 23 Apr, 2025

Recently, due to the continuous rise in futures prices and the increase in the MHP coefficient, as of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) stands at 84%-85%, and the FOB price of Indonesian MHP is $12,565/mt (Ni contained).