NICKEL PREMIUMS SNAPSHOT: Chinese discounts soften on brief LME nickel contango

Discounts for nickel full-plate cathodes in the Chinese import market softened in the week to Tuesday October 29 while material became cheaper to hold amid a brief contango in the London Metal Exchange nickel cash/three-month spread.

The benchmark LME cash/three-month nickel spread traded in a $32 per tonne backwardation on October 29, having snapped briefly into a $22 per tonne contango on October 22.

The spread had traded in a deep backwardation since mid-August this year that hit its widest point of $240 per tonne on...

Published

Violet Li

Amy Hinton

October 29, 2019

15:40 GMT

London