GLOBAL NICKEL WRAP: Mixed picture for premiums

Chinese nickel premiums increased in the week to Tuesday February 25, along with one in the United States, but European premiums remained flat, near a perceived bottom, sources told Fastmarkets.

  • China’s nickel premiums rise on falling arbitrage loss between Shanghai and London exchanges
  • The floor lifts slightly for US nickel briquette premiums
  • European nickel premiums stay low, reflecting weak demand and concerns over spread of novel coronavirus (2019-nCoV)
China nickel premiums rise as arbitrage loss falls
In China, nickel full-plate cathode premiums rose in the week to Tuesday due to an improved import arbitrage window. 
Fastmarkets' price assessment for the nickel, min 99.8%, full plate premium, cif Shanghai, was $110-150 per tonne on Tuesday, up 30% from $80-120 per tonne a week earlier.
Fastmarkets’ price assessment for the nickel, min 99.8% full plate premium, in-whs Shanghai, was $110-150 per tonne on Tuesday, also up week on week from $80-120 per tonne.

The import arbitrage between the LME three-month nickel contract and the most-traded contract on the...


Justin Yang

Violet Li

Orla O'Sullivan

February 26, 2020

19:57 GMT

New York, London, Shangai