【SMM Nickel Daily Review】On April 23, the spot price of refined nickel rose slightly, and nickel prices continued to fluctuate and adjust.

SMM Nickel April 23 News: 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 225 yuan/mt from the previous trading day. The mainstream spot premium quotation range for Jinchuan No. 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 100 yuan/mt from the previous trading day. Futures market: The most-traded SHFE nickel contract continued its fluctuating trend from yesterday, closing at 125,770 yuan/mt as of 11:30, up 0.19% from the previous trading day's settlement price. In the short term, nickel prices may continue to fluctuate and adjust, with the tug-of-war between longs and shorts focusing on the cost support brought by the implementation of Indonesian policies and the imbalance in supply and demand fundamentals.