Nickel Prices Fluctuate, Spot Premiums for Refined Nickel Remain High
This morning, spot premiums for Jinchuan brand nickel plates in East and South China continued to maintain last week's high quotations. The primary reason is that, in the short term, the supply and demand for domestic refined nickel spot cargoes have tightened due to the restocking pace of downstream sectors. Additionally, the direct sales of electrodeposited nickel by enterprises to end-use sectors and the increase in exports of domestically produced electrodeposited nickel have further reduced the supply in the spot market, leading to a continuous rise in spot premiums. However, overall demand remains weak. Meanwhile, the recent increase in imports of Russian nickel has led to more active quotations for various specifications of Russian nickel in the market, which may temporarily alleviate the tightening sentiment in the refined nickel market.
