Spot Premiums/Discounts: The mainstream spot premium for Jinchuan #1 nickel was 3,600-3,900 yuan/mt, with an average premium of 3,750 yuan/mt, down 100 yuan/mt compared to the previous trading day. The spot premium for Norilsk nickel was -300-0 yuan/mt, with an average premium of -150 yuan/mt, unchanged from the previous trading day.
Futures Market: On December 17, nickel prices fluctuated downward in the morning, with the midday closing price dropping by 1,640 yuan/mt to 125,170 yuan/mt, a decline of 1.29%, and the downward trend continued. The morning average price of SMM #1 refined nickel fell by 750 yuan/mt to 127,450 yuan/mt.
Spot Market: Currently, the fundamentals remain bearish with no structural changes, and the off-season sluggish demand in December has not shown significant improvement. Regarding spot premiums/discounts, the tight supply of Jinchuan brand nickel in the spot market has partially eased this week, with slight downward adjustments in premiums over the past two days. Other brand nickel plates showed relatively small changes overall.
Nickel Sulphate Price Spread: Nickel briquette prices were 125,000-125,200 yuan/mt, down 650 yuan/mt compared to the previous trading day. The price spread between refined nickel and nickel sulphate was 5,800 yuan/mt.
