Spot Nickel Trading Remains Average Today amid Low Futures Prices

SHANGHAI, May 12 (SMM) - On May 12, premiums of Jinchuan nickel were 11,000-11,500 yuan/mt. The average premium stood at 11,250 yuan/mt, up 2,350 yuan/mt from the previous trading day. NORNICKEL nickel was quoted with premiums of 6,100-6,500 yuan/mt, with an average of 6,300 yuan/mt, up 200 yuan/mt on a daily basis. Jinchuan nickel premiums surged today on supply tightness, but the spot trading was average since the futures prices stood low. Nickel briquette prices were 172,200-172,800 yuan/mt, down 2,600 yuan/mt from the previous trading day. The nickel briquette transactions were slack as it was still traded at premiums over nickel sulphate.