SMM Nickel Market Morning Comment (Nov 7)

On November 6, Jinchuan nickel was quoted at a premium of 1,700-1,800 yuan/mt, with an average of 1,750 yuan/mt, remaining unchanged from the previous trading day. Norilsk nickel was quoted at a discount of 400-0 yuan/mt, with an average of 200 yuan/mt, also unchanged from the previous trading day. On the morning of November 6, the futures market fluctuated, and there was no significant change in the spot market premium compared to the previous working day. Nickel briquette prices were 125,500-125,750 yuan/mt (out of stock), up 1,825 yuan/mt from the previous trading day. The price spread between nickel sulphate and nickel briquette was about 1,466 yuan/mt (nickel sulphate prices were 1,466 yuan/mt lower than nickel briquette prices).