Chinese premiums hold amid widening arbitrage loss
- Chinese premiums traded flat with consumers deterred from purchasing by a negative arbitrage of 6,400 yuan per tonne, which has increased from 6,000 yuan per tonne on Tuesday August 20
- European premiums remained stable amid reports that a tightening LME forward curve was putting pressure on an already-subdued summer spot market
- United States premiums steady as seasonal spot illiquidity rolls on
The Chinese premium for Nornickel plates held steady in the week to August 27 amid a closed import window, precipitating thin buying interest.
Fastmarkets assessed the nickel, min 99.8%, full plate premium, cif Shanghai,
at $150-180 per tonne on Tuesday, unchanged from last Tuesday.
Fastmarkets’ assessment of the nickel, min 99.8% full plate premium, in-whs Shanghai
, was at $160-190 per tonne on Tuesday, also flat from a week ago.
The import arbitrage between the Wuxi Stainless Steel...