Spot Premiums Remain High and Market Transactions are Thin

SHANGHAI, Dec 27 (SMM) - In the spot market, on December 27, the premiums of Jinchuan nickel were quoted at 10,000-10,500 yuan/mt, with an average price of 10,250 yuan/mt, flat from the previous trading day. NORNICKEL nickel premiums were quoted at 7,300-7,500 yuan/mt, with an average of 7,400 yuan/mt, flat from the previous trading day. Today, the futures prices rose while the spot premiums remained stable as the spot supply was tight. In terms of nickel briquette, the prices were 227,200-228,700 yuan/mt, an increase of 5,350 yuan/mt from a day ago. The nickel briquette prices were still higher than that of nickel sulphate, hence the spot transaction of nickel briquette was weak.