Nickel Prices Decline; Spot Premiums/Discounts Limited by Demand Growth
Nickel prices were adjusted downward again during the day, continuing to fluctuate at low levels. Spot premiums/discounts for Jinchuan brand nickel, domestic electrodeposited nickel, and Russian nickel saw slight increases but remained largely unchanged overall. Import premiums for Norwegian and Sumitomo nickel quotes rose slightly, with the economic advantage (compared to Jinchuan nickel) observed in the past two weeks diminishing. Overall transactions weakened. Futures prices declined this week, but considering the traditional off-season for downstream sales at year-end and the destocking phenomenon among downstream enterprises before the year-end, downstream procurement did not show significant improvement.
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