Nickel premiums in the United States and China dipped in the week to Tuesday May 26 while trade moved lower and premiums in Europe maintained their already-low levels, Fastmarkets was told.
Lower offers drive US nickel briquette premiums downLack of arbitrage opportunity in China facilitates trade at lower levelsEuropean market stable despite optimism for forward nickel demand in the regionChina premiums dip with arb loss expanding
Nickel full-plate cathode premiums in China dipped week on week on Tuesday May 26, with the wider arbitrage loss pressuring the market, sources said.
Fastmarkets assessed the
nickel, min 99.8%, full plate premium, cif Shanghai at $120-150 per tonne on Tuesday, down slightly by $10 per tonne at the high end from $120-160 per tonne a week prior.
Fastmarkets' assessment of the
nickel, min 99.8%, full plate premium, in-whs Shanghai also edged lower to $120-150 per tonne on Tuesday, compared with $120-160 per tonne a week ago.
The wider import loss amid a lack of physical demand weighed on the market, Fastmarkets learned.
"The arb loss is expanding to more...