Fastmarkets' assessed nickel full plates cif Shanghai premium increased 69% week on week on Tuesday June 18 due to an open import arbitrage between London and Shanghai, hitting an historic high since Fastmarkets launched the premium in April 2016.
Fastmarkets assessment of the low-high premium for 99.8% purity nickel, full plate, cif Shanghai surged to $350-410 per tonne on Tuesday June 18 from $210-240 per tonne a week prior, but trades have been quite limited with disagreement between buyers and sellers. Key drivers The Nornickel full plates' import arbitrage between the London Metal...