Shanghai plate premiums flat; briquette premium up
- Improved arbitrage, demand support Shanghai briquette premium
- Reduced supply, higher offers bolster US briquettes
- European sellers look to improving spot market amid price momentum.
The Shanghai nickel plate premiums were unchanged in the week to January 26 amid subdued trading sentiment ahead of the Chinese New Year holiday on February 11-17, sources said.
Fastmarkets assessed the nickel, min 99.8%, full plate premium, cif Shanghai
, at $100-110 per tonne on Tuesday, flat from a week earlier.
The corresponding calculation of the nickel, min 99.8%, full plate premium, in-whs Shanghai
, was also $100-110 per tonne on the same day, and similarly unchanged on a weekly basis.
With the approach of Chinese New Year holiday in mid-February, spot market activity has begun to slow down, Fastmarkets learned.
“Spot trading is quiet, and suppliers are keeping offers largely stable at around $150 per tonne. [They...