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SHFE Nickel Declined Slightly and the Transactions were Poor as the Premiums Changed Little

iconJun 29, 2022 11:24
Source:SMM
In the spot market, on June 28, Jinchuan nickel were quoted at 9,500-10,500 yuan/mt, with an average price of 10,000 yuan/mt, down 1,500 yuan/mt from the previous trading day. NORNICKEL nickel was quoted at 5,700 -6,000 yuan/mt, and the average price was 5,850 yuan/mt, down 400 yuan/mt from the previous trading day.

SHANGHAI, June 29 (SMM) - In the spot market, on June 28, Jinchuan nickel were quoted at 9,500-10,500 yuan/mt, with an average price of 10,000 yuan/mt, down 1,500 yuan/mt from the previous trading day. NORNICKEL nickel was quoted at 5,700 -6,000 yuan/mt, and the average price was 5,850 yuan/mt, down 400 yuan/mt from the previous trading day. The premiums of Jinchuan nickel generally declined yesterday mainly due to the high futures prices and poor downstream procurement affected by the procurement cycle.

In terms of nickel briquette, the price of nickel briquette was 175,500-176,500 yuan/mt, up 700 yuan from a day ago, mainly because the premiums narrowed. In addition, as the economy effectiveness of nickel briquette was lower than intermediate products and nickel plates were currently the mainstream alloys raw materials nickel plate, the spot transaction of nickel briquette was poor.
 

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