SMM Nickel Market Morning Comment (Aug 7)

On August 6, Jinchuan nickel was quoted at a premium of 1,500-1,700 yuan/mt, with an average of 1,600 yuan/mt, flat compared to the previous trading day. Norilsk nickel was quoted at a discount of 100 yuan/mt to a premium of 200 yuan/mt, with an average premium of 50 yuan/mt, up 50 yuan/mt from the previous trading day. In the morning, the market fluctuated, and spot premiums showed little change compared to the previous working day. Nickel briquette prices were 127,300-127,600 yuan/mt, down 600 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was about 1,268 yuan/mt (nickel sulphate prices were 1,268 yuan/mt lower than nickel briquette prices).