GLOBAL NICKEL WRAP: Nickel premiums flat as market prepares for contract negotiations

Global nickel premiums were largely unchanged over the past week due to limited spot market activity, with market participants working to conclude long-term contract negotiations, Fastmarkets heard on Wednesday November 7.

Chinese nickel premiums stable amid open import window European premiums stable with focus on long-term contracts US premiums flat in subdued spot market. Chinese nickel premium stable The nickel full-plate premium in China was unchanged for the second week amid an open import window and deals being reported in the previous price range. Fastmarkets assessed the cif Shanghai full-plate nickel premium at $200-220 per tonne on November 6, flat from the previous week. The Shanghai-bonded nickel premium was also unchanged on Tuesday at $200-220 per tonne. The import arbitrage between the London Metals Exchange and Wuxi last week fluctuated between -$58 per tonne and $145 per tonne. This was not sufficient to support full-on buying activity and led instead to flat premiums, according to market participants. “It wasn’t much of a change last...

Published

Chris Kavanagh

Justin Yang

Violet Li

November 07, 2018

20:26 GMT

London, Shanghai, Amsterdam