Spot Nickel Prices Fall on Bearish News Front and the Transactions Pick up

SHANGHAI, Mar 2 (SMM) - On March 2, traders began to offer spot quotes against SHFE 2304 nickel. Spot premiums of Jinchuan nickel were 7,000-7,500 yuan/mt. The average premium was 7,250 yuan/mt, down 1,000 yuan/mt from the previous trading day. NORNICKEL nickel was quoted at premiums of 4,800-5,200 yuan/mt, with an average of 5,000 yuan/mt, down 350 yuan/mt from the previous trading day. Affected by the pricing news of NORNICKEL Nickel yesterday, the spot premiums and SHFE nickel prices fell sharply, and the intraday spot transactions showed a significant improvement. The prices of nickel briquettes were 192,000-192,600 yuan/mt, down 4,150 yuan/mt from the previous trading day. Nickel briquette trading was poor as the prices were still higher than the nickel sulphate prices.