The wider import loss weighed on the Shanghai nickel market this week, while premiums in both the US and Europe were unchanged amid subdued spot interest and a lack of buyers.
Arb loss weighs on Shanghai premiums. Nornickel spillage of little concern to Europe. US market focuses on longer-term business amid spot inertia. China premiums fall on widening arb loss
Shanghai nickel premiums dipped in the week to Tuesday June 9, with the widening arbitrage loss deterring spot market activity.
Fastmarkets assessed the
nickel, min 99.8%, full plate premium, cif Shanghai at $120-140 per tonne on Tuesday, down by $10 per tonne on the high end from $120-150 per tonne a week prior.
Fastmarkets' assessment of the
nickel, min 99.8%, full plate premium, in-whs Shanghai was at $120-140 per tonne on the same day, narrowing down by $10 per tonne from $120-150 per tonne a week ago.
Import appetite has disappeared due to the wider...