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Nickel Daily: SHFE nickel prices trade in a volatile and weaker range, with average spot prices in the refined nickel market edging down

Source: Mysteel Apr 01, 2026 09:07
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Nickel Demand Price Supply
Currently, progress on RKAB quota approvals in Indonesia remains slow. For nickel ore used in pyrometallurgical processing, mainstream smelters are likely to keep nickel ore premiums at current levels in April, while other smelters may raise them by US $12/wmt. In the Philippines, nickel ore trader offers have softened slightly, and freight costs still have room to decline.Yesterday, SHFE nickel prices traded in a volatile and weaker range, with average spot prices in the refined nickel market edging down. Jinchuan Group lowered its ex-factory price to Yuan 138,900/tonne, a decrease of Yuan 800, while spot premiums and discounts pulled back further. Premiums and discounts for other brands remained generally stable, with ample supply overall. Market trading activity was subdued compared with the previous day, as downstream companies maintained a need-based purchasing pace amid a strong wait-and-see sentiment.

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