Profits of Imported Pure Nickel Promoted the Custom Clearance

SHANGHAI, Jan 12 (SMM) - In the spot market, the most traded SHFE nickel contract changed to SHFE 2302 contract. The premiums of Jinchuan nickel were quoted at 13,500-14,500 yuan/mt, with an average price of 14,000 yuan/mt, up 750 yuan/mt from the previous trading day. NORNICKEL nickel premiums were quoted at 6,800-7500 yuan/mt, with an average of 7150 yuan/mt, up 200 yuan/mt from the previous trading day yuan/mt. Last night, LME nickel fell sharply. The profits of imported pure nickel promoted the clearance of NORNICKEL nickel. In addition, as nickel prices remained low today, the spot transactions improved amid the downstream restocking demand. In terms of nickel briquette, the prices were 205,900-207,900 yuan/mt, an increase of 650 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.