SMM Nickel Market Morning Comment (Jul 24)

On July 23, Jinchuan nickel was quoted at a premium of 1,800-2,000 yuan/mt, with an average of 1,900 yuan/mt, a decrease of 50 yuan/mt compared to the previous trading day. Norilsk nickel was quoted at a premium of 0-200 yuan/mt, with an average price of 100 yuan/mt, an increase of 50 yuan/mt compared to the previous trading day. In the morning, as the market fluctuated downward, spot premiums saw a slight increase. Nickel briquette prices were 127,000-127,200 yuan/mt, an increase of 200 yuan/mt compared to the previous trading day. The price spread between nickel briquette and nickel sulphate was about 2,445 yuan/mt (nickel sulphate prices were 2,645 yuan/mt higher than nickel briquette prices).