SMM Nickel Market Morning Comment (Nov 6)

On November 5, Jinchuan nickel was quoted at a premium of 1,700-1,800 yuan/mt, with an average of 1,750 yuan/mt, up 50 yuan/mt compared to the previous trading day. Norilsk nickel was quoted at a discount of 400-0 yuan/mt, with an average of 200 yuan/mt, up 50 yuan/mt compared to the previous trading day. On the morning of November 5, the futures market fluctuated, and the spot market premium saw a slight increase compared to the previous working day. Nickel briquette prices were 123,600-124,000 yuan/mt (out of stock), down 250 yuan/mt compared to the previous trading day. The price spread between nickel briquette and nickel sulphate was about 518.18 yuan/mt (nickel sulphate prices were 518.18 yuan/mt higher than nickel briquette prices).