Nickel plate premiums in China were unchanged this week after the arbitrage window remained firmly shut, dampening import demand for the metal, but nickel pig iron (NPI) and nickel sulfate prices fared better with both registering decent gains this past week.
Elsewhere, the traditional summer slowdown across Europe and the United States kept premiums in both regions flat this week.
Lack of import appetite leaves China premiums flat. Both US and European premiums unchanged amid summer slowdown.
China nickel premiums unchanged; NPI, sulfate prices rise
There was a distinct lack of import appetite for nickel plates in China in the week to Tuesday August 11 amid the firmly-closed arbitrage window between the London Metal Exchange and Shanghai Futures Exchange.
Fastmarkets assessed the
nickel, min 99.8%, full plate premium, cif Shanghai at $100-130 per tonne on Tuesday, unchanged since July 28.
Fastmarkets' assessment of the
nickel, min 99.8%, full plate premium, in-whs Shanghai was also at $100-130 per tonne, similarly flat since July 28.
"The import arb loss is little changed, and is still above 2,000 yuan ($288) per tonne. So there's no import interest at all," a Shanghai-based nickel...