Nickel Prices Pull Back Further, Premiums and Discounts Drop Slightly [SMM Nickel Spot Midday Review]

Publicado: Dec 30, 2024 17:07

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[Nickel Prices Pulled Back Further, Spot Premiums Dropped Slightly] Nickel prices fluctuated rangebound today, down compared to the previous trading day. Spot premiums for Jinchuan-brand nickel remained largely stable overall, but as the sentiment of short-term supply tightness was gradually digested by the market, premiums showed slight loosening. Spot premiums/discounts for other brands of nickel plates remained largely stable this month. Approaching the end of the year, overall market transactions were sluggish.

SMM December 30 News:
Spot Premiums/Discounts: The mainstream spot premiums for Jinchuan No.1 nickel were quoted in the range of 3,400-3,500 yuan/mt, with an average premium of 3,450 yuan/mt, down 50 yuan compared to the previous trading day. Russian nickel premiums/discounts were quoted in the range of 0 to 100 yuan/mt, with an average premium of -50 yuan/mt, up 100 yuan compared to the previous trading day.
Futures: In the morning, nickel prices fluctuated at low levels, falling 1,200 yuan to 124,540 yuan, down 0.95%.
Nickel prices experienced sideways movement today, down compared to the previous trading day. Premiums for Jinchuan-branded nickel remained largely stable overall, but with the gradual digestion of short-term supply tightening sentiment by the market, premiums showed slight loosening. Spot premiums/discounts for nickel plates of other brands were largely stable throughout the month. As the year-end approached, overall market transactions were sluggish.
Regarding the price spread with nickel sulphate: Nickel briquette prices were at 123,600-124,000 yuan/mt today, down 1,550 yuan/mt compared to the previous trading day's spot prices. Nickel sulphate remained at a discount to refined nickel.

Declaração sobre a Fonte de Dados: Com exceção das informações publicamente disponíveis, todos os demais dados são processados pela SMM com base em informações publicamente disponíveis, comunicação de mercado e com base no modelo de base de dados interna da SMM. São apenas para referência e não constituem recomendações para a tomada de decisão.

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