Shanghai full-plate premiums fall, their first move in 13 weeks
- Chinese premiums fall as arbitrage losses worsen
- Declining spot offers push US briquette premium lower
- European buyers see ample supply; ride out LME volatility
The losses accrued when importing nickel to China increased in the week to Tuesday, resulting in Shanghai nickel premiums falling - their first moves since August 25.
The loss for importing nickel plate to China
was $243.30 per tonne over November 11-17, greater than the average loss of $76.10 per tonne during November 4-10, according to Fastmarkets’ calculation.
Fastmarkets assessed the nickel, min 99.8%, full plate premium, cif Shanghai
at $80-110 per tonne on November 17, down from $90-110 per tonne a week prior.
The nickel, min 99.8%, full plate premium, in-whs Shanghai premium
was also at $80-110 per tonne on November 17, down from $90-110 per tonne a week earlier.