- Negative arbitrage between the London Metal Exchange and Shanghai Futures Exchange kept China trade subdued
- Uptick in European briquette inquiries on SHFE deliverability from October failed to result in higher premium
- Subdued spot trade steadied US nickel premiums.
China shows little appetite for imports
No trading improvement was seen in the Shanghai nickel plate market in the week to June 23, with the poor arbitrage between Shanghai and London still providing no incentive to import.
Fastmarkets assessed the nickel, min 99.8%, full plate premium, cif Shanghai
, at $120-140 per tonne on Tuesday, flat week on week.
And Fastmarkets’ assessment of the nickel, min 99.8%, full plate premium, in-whs Shanghai
, was $120-140 per tonne on the same day, also unchanged week on week.
“The import [arbitration]...