SHFE Nickel Prices were High in the Morning and Spot Transactions were Weak

SHANGHAI, Oct 11 (SMM) - In the spot market, on October 11, Jinchuan nickel premiums were quoted at 9,500-10,000 yuan/mt, with an average of 9,750 yuan/mt, up 500 yuan/mt from the previous trading day. NORNICKEL nickel premiums was quoted at 4200-4500 yuan/mt, and the average price was 4350 yuan/mt, down 100 yuan/mt from the previous trading day.

Affected by the increase of futures prices in the morning, the spot prices rose by about 8,000 yuan, and the market transaction situation was not as good as yesterday. In terms of nickel briquette, the price of nickel briquette was 187,800-188,500 yuan/mt, up 2,800 yuan from yesterday. As the economy effectiveness of nickel briquette weakened, the transaction of nickel briquette was poor.