China nickel premiums rise as arbitrage loss falls
- 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)
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...