Global nickel premiums were flat in the week to Tuesday August 27, with subdued spot consumption reported across the board, precipitated by seasonal illiquidity in Europe and the United States and increased arbitrage losses in China.
Chinese premiums traded flat with consumers deterred from purchasing by a negative arbitrage of 6,400 yuan per tonne, which has increased from 6,000 yuan per tonne on Tuesday August 20European premiums remained stable amid reports that a tightening LME forward curve was putting pressure on an already-subdued summer spot marketUnited States premiums steady as seasonal spot illiquidity rolls on Chinese premiums hold amid widening arbitrage loss The Chinese premium for Nornickel plates held steady in the week to August 27 amid a closed import window, precipitating thin buying interest.Fastmarkets assessed the nickel, min 99.8%, full plate premium, cif Shanghai, at $150-180 per tonne on Tuesday, unchanged from last Tuesday.Fastmarkets' assessment of the nickel, min 99.8% full plate premium, in-whs Shanghai, was at $160-190 per tonne on Tuesday, also flat from a week ago.The import arbitrage between the Wuxi Stainless Steel Exchange and the London Metal Exchange...