Nickel Prices and Spot Premiums Decline Despite Temporary Supply Tightness

[Nickel Prices and Spot Premiums Both Weakened]

Spot premiums: Influenced by sentiment surrounding the recent supply tightening of Jinchuan-brand nickel plates, year-end premiums continued to rise and surpassed 4,000 yuan yesterday, reaching an annual high. However, in the past two days, a certain amount of Jinchuan-brand exported nickel plates has been re-imported into the domestic market, gradually entering the spot market and starting pre-sales, alleviating concerns over the short-term supply tightness of Jinchuan nickel plates. It is expected that the spot nickel plate premiums may pull back in the future.