Global nickel premiums were largely unchanged over the past week due to limited spot market activity, with market participants working to conclude long-term contract negotiations, Fastmarkets heard on Wednesday November 7.
Chinese nickel premiums stable amid open import windowEuropean premiums stable with focus on long-term contractsUS premiums flat in subdued spot market. Chinese nickel premium stableThe nickel full-plate premium in China was unchanged for the second week amid an open import window and deals being reported in the previous price range.Fastmarkets assessed the cif Shanghai full-plate nickel premium at $200-220 per tonne on November 6, flat from the previous week.The Shanghai-bonded nickel premium was also unchanged on Tuesday at $200-220 per tonne.The import arbitrage between the London Metals Exchange and Wuxi last week fluctuated between -$58 per tonne and $145 per tonne. This was not sufficient to support full-on buying activity and led instead to flat premiums, according to market participants."It wasn't much of a change last...