Open import window push premiums in China higher
Premiums unchanged in Europe in quieter summer season
US demand and premiums stable
Chinese premiums up amid open import window
Shanghai-bonded Nickel premiums rose at the low end of the range on Tuesday to $160-170 per tonne from $140-170 per tonne in the previous week, according to Metal Bulletin’s latest assessment. Multiple deals were heard within the new range.
Meanwhile, Metal Bulletin assessed the cif Shanghai full-plate nickel premium at $150-160 per tonne on Tuesday, unchanged week on week.
The import loss on refined nickel between the London Metal Exchange and the most-traded Wuxi contract narrowed to around $32 per tonne on Monday compared with $92 per tonne in the corresponding period last week.
“The import window opened at times this week, so we’re roughly at a breakeven point if we do the trading now,” a Shanghai-based trader said.
Some market participants estimate...