Inquiries Pick Up as Pure Nickel Spot Prices Sink

SHANGHAI, Feb 7 (SMM) - On February 7, spot premiums of Jinchuan nickel were quoted 7,300-7,500 yuan/mt. The average price was 7,400 yuan/mt, up 400 yuan/mt from the previous trading day.

Premiums of Nornickel nickel were quoted at 6,500 yuan/mt, down 50 yuan/mt.

SHFE nickel opened lower last night, but rebounded in today’s morning session. The spot price was slightly lower from yesterday, and the inquiries were picking up.

In terms of nickel briquette, the prices were 214,700-215,500 yuan/mt, a decrease of 1,150 yuan/mt from a day ago. The transactions of nickel briquette were slack as it was still traded at premiums over nickel sulphate.