Tight supply helped buoy nickel premiums in China although low offers in Europe and the United States pushed briquette premiums down in those regions.
Tight nickel supply in China supports market there despite closed import window Influx of briquettes into US pushes premiums lower Aggressive offers in Europe push premium downLimited supply supports Chinese bonded premium The Shanghai-bonded nickel premium was unchanged week on week on Tuesday November 28 - limited supply helped to shake off downward pressure from the closure of the import arbitrage window. Fastmarkets assessed the Shanghai-bonded nickel premium at $210-230 per tonne on Tuesday, flat compared with the previous week. The import arbitrage between the London Metal Exchange and the Wuxi exchange last week fluctuated between -$216 per tonne and $144 per tonne. It was in negative territory for most of the week. "The window is closed for now but we are still getting a lot inquiries. There is not much stock in the bonded zone at the moment, which is giving support to Shanghai-bonded premiums," a Shanghai-based trader said. Fastmarkets assessed nickel stocks in...