SMM

On May 23, Jinchuan nickel was at a premium of 1,000-1,200 yuan/mt, with an average of 1,100 yuan/mt, up 400 yuan/mt from the previous trading day. Russian nickel was at a discount of 300 to 600 yuan/mt, with an average of 450 yuan/mt, flat compared to the previous trading day. In the morning, the market experienced a sharp drop along with the non-ferrous metals sector. Although the spot market transactions recovered compared to before, they were still primarily driven by essential procurement. Nickel briquette prices were 149,000-149,800 yuan/mt, down 5,050 yuan/mt from the previous trading day. The price gap between nickel briquette and nickel sulphate was about 2,582 yuan/mt (nickel sulphate prices were 2,582 yuan/mt lower than nickel briquette prices).