Pure Nickel Transactions were Poor as SHFE Nickel Prices were High

SHANGHAI, Aug 11 (SMM) - In the spot market, on Aug 11, Jinchuan nickel premiums were quoted at 7,000-8,000 yuan/mt, with an average of 7,500 yuan/mt, up 150 yuan/mt from the previous trading day. NORNICKEL nickel premiums was quoted at 4,000 -4,500 yuan/mt, and the average price was 4,250 yuan/mt, down 500 yuan/mt from the previous trading day. The premiums of pure nickel changed little and the transactions during morning were poor due to the high SHFE nickel prices.

In terms of nickel briquette, the price of nickel briquette was 178,000-179,200 yuan/mt, up 6,350 yuan from yesterday, mainly because the premiums narrowed. In addition, as the economy effectiveness of nickel briquette was lower than intermediate products and nickel plates were currently the mainstream alloys raw materials nickel plate, the spot transaction of nickel briquette was poor.