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Chinese cif premium dips on closed import window
In China, the nickel cif Shanghai premium narrowed downward in the import market with cargo holders losing confidence amid a closed import window.
Fastmarkets’ Shanghai cif nickel premium fell on the top end by $10 to $180-190 per tonne on Tuesday, with deals reported within the new range.
Meanwhile, Fastmarkets’ premium for Shanghai bonded nickel, 99.8% purity, was stable at $200-210 per tonne.
The arbitrage window for importing nickel from London to Shanghai remained closed in the week to Tuesday, with importers facing an arbitrage loss of around 1,500 yuan ($223) for each tonne of nickel brought into the country as of April 2.
“Many cargo holders with plates arriving in April offered at $200...