Nickel premiums in Shanghai dived to their lowest level in eight months on Tuesday March 20, due to the sustained negative arbitrage, while the majority of US and European premiums remained firm.
Shanghai full-plate premiums dive to August 2017 lowNickel briquette premiums in Rotterdam dip due to more availabilityUS nickel premiums unchanged but demand is firm Shanghai premiums dive on negative arbitrage, lower offers The full-plate nickel premium cif Shanghai and the Shanghai-bonded warehouse premium both dipped to their lowest levels since August 2017 this week, due to the sustained negative import arbitrage in the first quarter, low buying interest and much lower offered premiums for spot supply. The cif Shanghai full-plate nickel premium decreased to $190-220 per tonne compared with $220-250 per tonne a week ago, while the Shanghai-bonded warehouse premium dropped to $210-230 per tonne from $250-280 per tonne previously, according to Metal Bulletin's assessment. Import losses between the London Metal Exchange's three-month nickel contract and the Wuxi's most-traded April contract stood at around $380 per tonne on Tuesday March 20, compared with $415 per tonne a week...