Chinese nickel premiums strengthened on Tuesday April 16 due to optimism that the import window will open, while the European nickel briquette premium softened on bearish sentiment.
Chinese premiums strengthen ahead of import window opening European briquette premium slides on bearish sentiment US premiums hold firm, retain previous gains Chinese premiums rise to meet import window opening Chinese Shanghai nickel premiums rose over the week and inquiries for material increased in anticipation of an import profit, with the arbitrage window finally opening on Wednesday April 17. Fastmarkets' cif Shanghai nickel premium widened upward to $180-200 per tonne on Tuesday from $180-190 per tonne in the previous week, supported by a deal reported at the top end of the new range. Fastmarkets' Shanghai bonded nickel premium, 99.8% purity, also widened upward to $200-220 per tonne on Tuesday from $200-210 per tonne the previous week. The previously-closed arbitrage window for London-to Shanghai nickel imports opened on April 17, trading at a 1,045.96 yuan ($119.27) per tonne profit on the same date, up by 1,317.38 yuan from the 271.42...