Nickel Prices Retreat as Downstream Buying Sentiment Declines

Nickel Prices Pull Back as Downstream Purchasing Sentiment Cools

Nickel prices fluctuated rangebound today, continuing the upward trend from the previous trading session during the day. Spot premiums for Jinchuan-brand nickel remained largely stable at high levels, but as the sentiment of short-term supply tightness was gradually digested by the market, premiums saw a slight loosening. Spot premiums/discounts for nickel plates of other brands have remained largely stable this month. This week, nickel prices have generally risen with fluctuations, but downstream sentiment for low-price restocking has weakened, and market transactions have turned cold again in the past two days.