Global nickel premiums were generally well supported, with premiums rising in Europe and Asia while strong fundamentals and expensive logistics kept US premiums stable, sources told Fastmarkets.
Open arbitrage drives Shanghai premium up Strong demand boosts European nickel briquette premium High logistics costs supports US nickel premiums Open arbitrage pushes up Shanghai nickel premium
Cif premiums narrowed upward amid the abruptly re-opened arbitrage window between London and Shanghai nickel prices in the week to Tuesday July 6.
Despite the reopened arbitrage, spot trading remains limited with a price gap between buyers and sellers.
Fastmarkets assessed the
nickel, min 99.8%, full plate premium, cif Shanghai at $160-170 per tonne on Tuesday July 6, up from $150-170 per tonne a week earlier.
The corresponding
nickel, min 99.8%, full plate premium, in-whs Shanghai was $170-180 per tonne on Tuesday July 6, up from $160-180 per tonne a week earlier.
"The upward...