GLOBAL NICKEL WRAP: Nickel premiums unchanged in US, Asia; Vale supply ramping up

Nickel premiums were unchanged in both the United States and China in the week to Tuesday August 24, with higher levels of spot business reported in Asia due to an opened arbitrage window between London and Shanghai.

US 4x4 cut cathode premium steady, after rising by 11.1% in the previous week with market participants awaiting price direction.Spot activity up in Asia on an open arbitrage window between London and Shanghai although this had little effect on prices.
'Hugely volatile' LME helps keep US buyers away
Nickel premiums were unchanged in the United States in subdued spot trading, sources said.
A summer lull was made quieter by buyers waiting to see which direction prices would move, following significant declines across base metals on the London Metal Exchange on August 19, and while domestic supply ramps-up with Vale emerging from a strike at its Sudbury nickel mine in Canada.

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