SMM Nickel Market Morning Comment (Jul 23)

On July 22, Jinchuan nickel was at a premium of 1,900-2,000 yuan/mt, with an average of 1,950 yuan/mt, an increase of 250 yuan/mt compared to the previous trading day. Norilsk nickel was quoted at a premium of 0-100 yuan/mt, with an average of 50 yuan/mt, an increase of 50 yuan/mt compared to the previous trading day. In the morning, as the market fluctuated downward, spot premiums saw a slight increase. Nickel briquette prices were 126,800-127,000 yuan/mt, a decrease of 1,700 yuan/mt compared to the previous trading day. The price spread between nickel briquette and nickel sulphate was about 2,645 yuan/mt (nickel sulphate prices were 2,645 yuan/mt higher than nickel briquette prices).