Nickel premiums in all global regions were static in the week to Tuesday October 27 due to a high London nickel price and low arbitrage opportunities.
China sees minimal trade with importing incentive still low. European trade inhibited by higher London Metal Exchange prices and lower contango. Spot trade subsides in the United States after a burst last week. Wider arb loss limits China's nickel trade
The long closed import arbitrage window between London and Shanghai diminished trade and left premiums in China unchanged.
Fastmarkets assessed the nickel, min 99.8%, full plate premium, cif Shanghai at $90-110 per tonne in the week to Tuesday October 27, static since August 25.
Meanwhile, Fastmarkets' assessment of the nickel, min 99.8%, full plate premium, in-whs Shanghai also held at $90-110 per tonne on Tuesday, unchanged since August 25.
"The market is dead, [with] nothing heard as the arb window is closed firmly," a Shanghai-based trader said.
The loss for importing nickel plates to China averaged at $328.10 per tonne during October 21-27, widening from the average loss...