Chinese nickel premiums hit a fresh nine-month low on Tuesday April 24 on sluggish import demand, while the US market saw increased demand and deal volume in Europe ticked up.
Lack of import demand in China pushes premiums down US market unchanged, demand up after LME volatility European market stable with uptick in volume Chinese premiums hit nine-month low The cif Shanghai full-plate nickel premium and the Shanghai bonded-warehouse premium both hit fresh nine-month lows due to a wide negative arbitrage and lackluster demand for importing nickel full plates. Metal Bulletin assessed the cif Shanghai full-plate nickel premium at $140-150 per tonne on Tuesday, down from $140-170 per tonne a week ago. Meanwhile, the Shanghai-bonded warehouse premium was assessed at $140-170 per tonne compared with $150-180 per tonne previously. The London-Shanghai import loss for refined nickel widened to $1,295.94 per tonne on April 23 from $620.79 per tonne on April 16, according to Metal Bulletin calculations. The dramatic changes in the three-month nickel contract...