Spot Nickel Premiums Drop Today amid Expanding Market Supply

SHANGHAI, May 18 (SMM) - On May 18, premiums of Jinchuan nickel were 10,900-11,500 yuan/mt. The average premium stood at 11,200 yuan/mt, flat from the previous trading day. NORNICKEL nickel was quoted at premiums of 6,000-6,800 yuan/mt, with an average of 6,400 yuan/mt, down 350 yuan/mt from a day ago. The spot premiums dropped slightly today on expanding supply. Nickel briquette prices were 168,600-168,900 yuan/mt, an increase of 800 yuan/mt from the previous trading day. The nickel briquette transactions were slack as it was still traded at premiums over nickel sulphate.