SMM, February 26:
Spot Premiums/Discounts: The mainstream spot premiums for Jinchuan No.1 nickel were quoted in the range of 1,700-1,900 yuan/mt, with an average premium of 1,800 yuan/mt, up by 50 yuan compared to the previous trading day. The spot premiums/discounts for Russian nickel were quoted in the range of -100 to 100 yuan/mt, with the average price on par with the previous trading day.
Futures: Nickel prices fluctuated after opening today, down by 0.43%, hitting a low of 123,340 yuan/mt.
Spot Premiums/Discounts: The premiums for Jinchuan brand nickel rose by 50 yuan compared to the previous trading day, mainly due to the contract rollover of the most-traded contract.
From a technical perspective and market sentiment: The SHFE nickel 2503 contract showed rangebound fluctuations during the morning session, with moderate market trading activity.
Price Spread with Nickel Sulphate: Today, nickel briquette prices were quoted at 123,400-123,600 yuan/mt, with an average price of 123,500 yuan/mt, down by 75 yuan/mt compared to the previous trading day's spot price. Nickel sulphate remained at a discount to refined nickel.
