SMM Nickel Market Morning Comment (Sep 20)

On September 19, Jinchuan nickel was quoted at a premium of 1,800-2,000 yuan/mt, with an average of 1,900 yuan/mt, up 50 yuan/mt compared to the previous trading day. Norilsk nickel was quoted at a discount of 200-100 yuan/mt, with an average of 150 yuan/mt, up 25 yuan/mt compared to the previous trading day. On the morning of September 18, the futures market fluctuated upward, and the spot premium narrowed overall compared to the previous working day. The price of nickel briquette was 121,850-122,950 yuan/mt, up 375 yuan/mt compared to the previous trading day. The price spread between nickel briquette and nickel sulphate was about 4,509 yuan/mt (nickel sulphate prices were 4,509 yuan/mt higher than nickel briquette prices).