GLOBAL NICKEL WRAP: Shanghai premiums fall on tighter credit, weaker demand; US, Europe steady

Shanghai nickel premiums fell on Tuesday November 28 pressured by tighter credit availability in the region and weaker demand from the stainless steel sector, while premiums remained firm in the US and edged up in Europe.

  • Nickel premiums in Shanghai, both on a cif basis and for bonded warrants, decreased in the week, pressured by tighter credit and weaker buying interest
  • A lack of physical supply in the US keeps melting grade premiums steady, with a potential uptrend expected for 2018 if demand remains strong and supply tightens further
  • Industry participants are also anticipating higher 2018 premiums in Europe, which has made securing fixed supply deals for next year more difficult.
Shanghai premiums pushed lower by tighter credit, weaker demand
Nickel full plate premiums in Shanghai fell this week, both on a cif basis and for bonded warrants, due to tighter credit at the end of the year and weaker demand from the downstream stainless steel industry discouraging buying interest.

Shanghai full-plate premiums fell to $270-290...


Danielle Assalve

Ellie Wang

Millicent Dent

Justin Yang

November 29, 2017

16:20 GMT

Shanghai, London, New York