GLOBAL NICKEL WRAP: China premiums hit year high on better demand, supply tightness

Chinese premiums of nickel plate remained weak, but prices of nickel pig iron (NPI), nickel ore and nickel sulfate all refreshed the highest level hit this year while premiums in the United States were unmoved amid a holiday trading hiatus, Fastmarkets heard.

Chinese prices of NPI, nickel ore and nickel sulfate all up, while nickel plate premiums unchanged. US premiums static due to holidaysStronger LME nickel price deters European spot consumption
China nickel premiums stable amid closed arb; NPI, nickel ore, nickel sulfate all hit 2020 high
The absence of import interest amid the sustained closure of the arbitrage window between London and Shanghai left Shanghai nickel premiums steady in the week ending Tuesday September 1, Fastmarkets learned.
Fastmarkets assessed the nickel, min 99.8%, full plate premium, cif Shanghai at $90-110 per tonne on Tuesday, flat from a week prior.
Fastmarkets' assessment of the nickel, min 99.8%, full plate premium, in-whs Shanghai also stood unchanged at $90-110 per tonne the same day.

"I've heard nothing for nickel plate imports due to the big arb loss, but China's prices for stainless steel have been strengthening recently," a Shanghai-based trader said....

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