Shanghai nickel premiums fell in the week to Tuesday November 17 while rates on briquette in the United States again succumbed to pressure from intense competition for business in the spot market.
Chinese premiums fall as arbitrage losses worsenDeclining spot offers push US briquette premium lowerEuropean buyers see ample supply; ride out LME volatility
Shanghai full-plate premiums fall, their first move in 13 weeks
The losses accrued when importing nickel to China increased in the week to Tuesday, resulting in Shanghai nickel premiums falling - their first moves since August 25.
The loss for importing nickel plate to China was $243.30 per tonne over November 11-17, greater than the average loss of $76.10 per tonne during November 4-10, according to Fastmarkets' calculation.
Fastmarkets assessed the nickel, min 99.8%, full plate premium, cif Shanghai at $80-110 per tonne on November 17, down from $90-110 per tonne a week prior.
The
nickel, min 99.8%, full plate premium, in-whs Shanghai premium was also at $80-110 per tonne on November 17, down from $90-110 per tonne a week earlier.
An offer...