Nickel premiums in China were under pressure from lack of demand and lower offers in the week ended Tuesday August 18, while premiums in Europe and the United States were unchanged week on week.
Premiums in China fall while nickel pig iron (NPI) and sulfate prices rise. US, European premiums stay muted in traditional August trading lull. China nickel premiums fall on weak activity
The nickel market was quiet in the week to Tuesday August 19, with little interest from buyers despite lowered offers in the market.
As a result, Fastmarkets'
nickel, min 99.8%, full plate premium, cif Shanghai fell by $10 on the high end to $100-120 per tonne on Tuesday. It had been previously unchanged since July 28.
Similarly, Fastmarkets' assessment of the
nickel, min 99.8%, full plate premium, in-whs Shanghai was down $10 on the high end to $100-120 per tonne on Tuesday.
"Nickel is even quieter than copper now, and some traders even delivered full plates into LME warehouses," a Shanghai-based nickel trader said.
"I was offering this week but there were no bids in...