【SMM Nickel Daily Review】On April 18, spot discounts widened, while futures prices mainly fluctuated.

Apr 18, 2025, at 4:23 pm

SMM Nickel April 18 News: Spot market: Today, the price of SMM 1# refined nickel was 125,850-128,750 yuan/mt, with an average price of 127,300 yuan/mt, down 1,475 yuan/mt from the previous trading day. The mainstream spot premium quotation range for Jinchuan No. 1 nickel was 2,100-2,600 yuan/mt, with an average premium of 2,350 yuan/mt, down 400 yuan/mt from the previous trading day. The premium and discount quotation range for Russian nickel was 0-300 yuan/mt, with an average premium of 150 yuan/mt, unchanged from the previous trading day. Futures market: Today, SHFE nickel futures mainly showed a fluctuating trend, with the most-traded contract closing at 125,600 yuan/mt, down 0.05%, and the intraday fluctuation range was 124,800-126,350 yuan/mt. Nickel prices may maintain a sideways movement in the range of 120,000-128,000 yuan/mt in the short term, with the cost game of Indonesia's policy implementation and high inventory suppression forming a tug-of-war between bulls and bears.

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【SMM Nickel Daily Review】On April 18, spot discounts widened, while futures prices mainly fluctuated.

The raw material arrivals for secondary lead smelters were poor, and the supply in the secondary crude lead market remained scarce. [SMM Scrap Battery & Secondary Crude Lead Weekly Review]

Loss pressure led to a narrowing of the discount on refined lead quotations during the week, and the willingness of secondary lead smelters to cut production increased. [SMM Secondary Refined Lead Weekly Review]