Nickel premiums up in China on hopes that SHFE will approve foreign brands

Premiums for imported nickel rose quickly in China this week, amid growing hopes for approval of foreign brands for settlement against the Shanghai Futures Exchange nickel contract.

On Thursday May 28, nickel of at least 99.8% purity was trading at an average premium level of $189.17 per tonne on in warehouse basis, compared with a level of $146.5 two weeks ago.
Norilsk nickel plate was trading at a premium of $150-170 per tonne. Sumitomo was trading between $180-200 per tonne, while Jinchuan’s exported plate was trading at $200-250 per tonne.

Despite higher prices, market participants reported tight availability of imported nickel plate, as traders were hoarding in anticipation of higher prices later...

Published

Linda Lin

May 28, 2015

09:18 GMT

Shanghai