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Nickel Prices Declined in Early Trading [SMM Nickel Spot Midday Review]
Mar 18, 2025, at 4:01 am
【Nickel Prices Declined in Early Trading】The mainstream spot premiums for Jinchuan Nickel No.1 were quoted in the range of 1,500-1,700 yuan/mt, with an average premium of 1,600 yuan/mt, up by 200 yuan/mt compared to the previous trading day. The premiums and discounts for Russian nickel were quoted in the range of -200 to 0 yuan/mt, with an average discount of 100 yuan/mt, remaining unchanged from the previous trading day.
SMM March 18 News:
Spot Premiums/Discounts: 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, up by 200 yuan/mt compared to the previous trading day. The premiums and discounts for Russian nickel were quoted in the range of -200 to 0 yuan/mt, with an average discount of -100 yuan/mt, remaining unchanged from the previous trading day.
Futures: Nickel prices showed a fluctuating trend after the opening today. As of 11:30, the closing price was 130,743 yuan/mt, down by 2.31% compared to the previous trading day's settlement price, with a low of 129,810 yuan/mt.
Spot Premiums/Discounts: The spot premiums for Jinchuan-branded nickel rose by 200 yuan compared to the previous trading day. The futures market saw a decline during the night session, prompting traders to slightly raise prices to maintain profitability.
From a technical perspective, SHFE nickel futures contracts declined after the opening, possibly indicating that the sentiment impact from earlier Indonesian policies has subsided. Moving forward, close attention should be paid to the recovery of downstream demand.
Price Spread with Nickel Sulphate: Today, the SMM 1# refined nickel price was quoted in the range of 129,700-132,050 yuan/mt, with an average price of 130,875 yuan/mt, down by 2,675 yuan/mt compared to the previous day's spot price. The price spread was around 102,775, with nickel sulphate still at a discount to refined nickel.
