Fastmarkets MB's nickel premiums were stable across all regions in the week to Tuesday October 16 in quiet trading conditions after the London Metal Exchange Week.
Premiums in China were steady due to a closed import window and stock overhang. European premiums were unchanged following the annual gathering of the metals market in London for LME Week. Nickel premiums in the United States were level with little trading activity last week. Chinese nickel premiums hold steady In China, nickel premiums were stable week on week on adequate stocks at domestic stainless mills and a closed import window, which discouraged fresh buying. Fastmarkets MB assessed the cif Shanghai full-plate nickel premium at $200-210 per tonne on Tuesday, unchanged from a week ago. The Shanghai-bonded nickel premium was also unchanged at $200-210 per tonne on Tuesday. "There're not many trades after the Golden Week holiday [on October 1-7]; stainless steel mills procured enough prior to that holiday," a Shanghai-based trader said. "Buyers are not yet in a position to accept higher offers due to the unstable arbitrage window which...