China nickel ore prices continued their ascent in the week to Tuesday September 29 - outstripping other regional prices - while United States briquette premiums narrowed at the bottom end of the range and consumers began to restock ahead of the fourth quarter, sources said.
China's nickel ore price rally continues unabated while regional nickel sulfate prices downThe already-low US premiums narrow up on improved demandLower offers for European units fail to manifest in concluded tradeShanghai nickel plate, briquette premiums unchanged; ore outperforms
China's premiums for nickel plate and briquette were static in the week to Tuesday September 29 amid the ongoing lack of arbitrage opportunity between the London Metal Exchange and Shanghai Futures Exchange and subdued spot demand.
Chinese nickel ore prices continued to rally over the period, however, while nickel sulfate conversely dipped in the week to Friday September 25.
The closed LME-SHFE arbitrage window capped import appetite for nickel plates and market participants broadly expect conditions not to improve in 2020, Fastmarkets learned.
Fastmarkets assessed the
nickel, min 99.8%, full plate premium, cif Shanghai at $90-110 per tonne on Tuesday, unchanged since August 25.
Fastmarkets' assessment...