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Home / Metal News / Stronger SHFE Nickel Prices Depress Spot Market

Stronger SHFE Nickel Prices Depress Spot Market

Feb 21, 2023 11:20

Source:SMM

NORNICKEL nickel was quoted at premiums of 4,500-5,000 yuan/mt, with an average of 4,750 yuan/mt, down 400 yuan/mt from the previous trading day.

SHANGHAI, Feb 21 (SMM) - On February 21, spot premiums of Jinchuan nickel stood at 6,500-6,800 yuan/mt, averaging at 6,650 yuan/mt, down 700 yuan/mt from a day ago. NORNICKEL nickel was quoted at premiums of 4,500-5,000 yuan/mt, with an average of 4,750 yuan/mt, down 400 yuan/mt from the previous trading day.

So far, SHFE nickel warrants still remained low, sending nickel prices fluctuating wildly. SHFE nickel strengthened in the morning session and resulted in poor spot transactions.

In terms of nickel briquette, the prices were 211,400-212,400 yuan/mt, an increase of 6,850 yuan/mt from the previous trading day. The transactions of nickel briquette were slack as it was still traded at premiums over nickel sulphate.

Spot

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