China's nickel plate premiums fell amid a closed arbitrage window while market participants in Europe and the United States reported minimal buying interest in the week to Tuesday March 16.
Poor arbitrage muted Chinese nickel plate market.European plate premiums reach balance with great demand for briquetteUS spot buying due to increase post-pandemicChina's nickel premium down; nickel sulfate upward
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...