SMM News, March 19th:
On March 19th, Jinquan reported a premium of 1100-1300 yuan/ton, with an average price of 1200 yuan/ton, which remained unchanged compared to the previous trading day. Russian nickel premiums were quoted at -400 to -200 yuan/ton, with an average of -300 yuan/ton, representing an increase of 50 yuan/ton compared to the previous trading day. Nickel futures in Shanghai fluctuated downward in the morning. The atmosphere in the spot market improved slightly today, with downstream purchasing intentions showing some signs of recovery. In addition, according to SMM research, there may be some overseas refined nickel arrivals this week, indicating an increase in supply for the week. Today's nickel bean prices were 135,500-136,200 yuan/ton, down 1650 yuan/ton from the previous trading day. The price difference between nickel beans and nickel sulfate today is about 1650 yuan/ton (nickel sulfate prices are 1650 yuan/ton higher than nickel beans). Nickel sulfate prices continue to rise, while the upward momentum of nickel is insufficient, leading to further narrowing of the price difference between the two.
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