Shanghai nickel premiums rebound on positive arbitrage, but more bills of lading supply and tighter credit at year-end make trading volumes thin
Nickel premiums in Europe remain unchanged at multi-year highs
US premiums stay high on tight supply and robust demand
Nickel premiums rebound in Shanghai but upside limited
Nickel full plate premiums in Shanghai rebounded this week, both on a cif basis and for bonded warrants, on turning positive import arbitrage between the Wuxi December contract and the LME three-month contract. Upside was limited on tighter credit in end of a year and more supply in coming weeks.
Shanghai full-plate premiums rose $10 to $290-300 per tonne cif from $280-290 per tonne...