Jinchuan Nickel to See Premiums Fall, SMM Expects

SHANGHAI, Aug. 11 (SMM) – On Friday, Jinchuan Group cut ex-works price of refined nickel to 87,000 yuan per tonne, down 500 yuan from a day earlier. 

Jinchuan Group turned active in sales as margins increased significantly with nickel futures price rising. 

The company started increasing monthly output to 11,500-12,000 tonnes from July, leaving sufficient supply. And premiums of Jinchuan nickel narrowed from 1,600 yuan seen in early week to around 700-800 yuan. 

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With nickel futures price hovering at high, premiums of Jinchuan nickel are expected to fall to within 500 yuan per tonne. 

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