SMM

On November 21, Jinchuan nickel was quoted at a premium of 2,800-2,900 yuan/mt, with an average of 2,850 yuan/mt, up 450 yuan/mt from the previous trading day. Norilsk nickel was quoted at a discount of 200 yuan/mt to a premium of 100 yuan/mt, with an average discount of 50 yuan/mt, down 50 yuan/mt from the previous trading day. On the morning of November 21, the futures market fluctuated, and Jinchuan nickel premiums rose significantly compared to the previous working day, mainly due to the limited spot circulating supply. The premiums and discounts for imported nickel and electrodeposited nickel narrowed slightly as the futures market rose compared to the previous days. Nickel briquette prices were 126,600-127,100 yuan/mt (in short supply), up 1,000 yuan/mt from the previous trading day. The price spread between nickel briquette and nickel sulphate was approximately 7,304.55 yuan/mt (nickel sulphate prices were 7,304.55 yuan/mt lower than nickel briquette prices).