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Nickel Prices Show Strength: Strong Performance in Early Trading [SMM Nickel Spot Midday Review]
Mar 03, 2025, at 5:33 am
[Nickel Prices Declined Initially After Opening This Morning and Then Fluctuated Upward] The mainstream spot premiums quotation range for Jinchuan Nickel No.1 was 1,500-1,700 yuan/mt, with an average premium of 1,600 yuan/mt, remaining unchanged from the previous trading day. The premiums and discounts quotation range for Russian nickel was -300 to 0 yuan/mt, with an average discount of -150 yuan/mt, also unchanged from the previous trading day.
March 3 News: The mainstream spot premiums for Jinchuan No. 1 nickel were quoted in the range of 1,500-1,700 yuan/mt, with an average premium of 1,600 yuan/mt, unchanged from the previous trading day. The premiums and discounts for Russian nickel were quoted in the range of -300 to 0 yuan/mt, with an average discount of -150 yuan/mt, also unchanged from the previous trading day. Nickel prices strengthened after the opening today, with the closing price at 11:30 recorded at 126,690 yuan/mt, down 0.09% from the previous trading day's settlement price, reaching a high of 127,080 yuan/mt. Spot premiums for Jinchuan-branded nickel remained unchanged from the previous trading day, mainly due to the incomplete recovery of downstream demand. The SHFE nickel 2504 contract performed strongly in the morning session, possibly related to the upcoming Two Sessions, with market sentiment playing a dominant role. Today, nickel briquette prices were in the range of 125,650-126,500 yuan/mt, with an average price of 126,075 yuan/mt, up 25 yuan/mt from the previous trading day's spot price. Nickel sulphate remained at a discount to refined nickel.
