China’s nickel premium down; nickel sulfate upward
- Poor arbitrage muted Chinese nickel plate market.
- European plate premiums reach balance with great demand for briquette
- US spot buying due to increase post-pandemic
China nickel cif premiums declined amid a closed arbitrage window between London and Shanghai in the week to Tuesday March 12, with spot trading quiet.
Fastmarkets assessed the nickel, min 99.8%, full plate premium, cif Shanghai
at $140-150 per tonne on Tuesday March 16, down by $10-20 (9.4%) from $150-170 a week earlier.
Fastmarkets’ corresponding nickel, min 99.8%, full plate premium, in-whs Shanghai
was at $150-170 per tonne on the same day, down by $30-40 (17.9%) from $190-200 a week earlier.
“The spot market is very quiet compared with last week because the arbitrage window closed again,” one Shanghai-based trader said.
“We need to wait for the domestic market to digest last week’s imported...