The nickel premium market in China was quiet in the week to Tuesday July 30, with the incentive to import now gone while premium discounting has receded in the United States and Europe is starting to feel the summer slowdown.
Chinese premiums flat while import demand is low and supply sufficient US briquette premiums steady; recent discounting seemingly halts European premiums flat on sustained seasonal illiquidityChinese premiums stable with import window closedNickel premiums for Nornickel plates in China remained flat in the week to Tuesday amid thin buying interest due to a closed import window and sufficient stock in the region - metals was brought into the country when the import window was last open.Fastmarkets' assessment of the nickel, min 99.8%, full plate premium, cif Shanghai was $180-200 per tonne on Tuesday, unchanged from a week ago.The premium had been at an all-time high of $350-410 per tonne on June 18 on the basis of significant arbitrage opportunities between the London Metal Exchange and the Wuxi Stainless Steel Exchange in Shanghai, which enabled a profit of 1,500 yuan ($218) per tonne on June 18. Fastmarkets assessed nickel, min 99.8%...