Nickel – Long-term demand clearly supported the nickel price

Date Apr 26 2018 16:36:07Source:SHMET

With regards to NI FP, offers in Shanghai bonded zone keep standing at the range of $180-$210, so is premiums for CIF. The SHFE Spot/LME 3M was at 7.34 and that for 3M SHFE/LME 3M at 7.35. Russian Ni registered a loss of RMB3675 in spot (2%of import tax) and a loss of RMB3955 3M forward.


CIF shanghai Russian Ni premium quotation in the market is at around $195/tonne, with actual purchase in large amounts being negotiable. Downstream enterprises are purchasing on demand, the market re-export trade is more active than the general trade, and the offer is mostly the B/L of arriving at the port in mid-June. Some buyers replenish their warehouse in small quantities, LME Nickel rose slightly to stand at 14,000 US dollars, and long-term demand remained optimistic expectations, thus forming a clear support for nickel prices.

Edited by SHMET

Zinc – Inquiries are the main tone in the market, with purchase being limited

Date Apr 26 2018 16:35:18Source:SHMET

Zinc Premiums in Shanghai bonded warehouse quoted at $135-$145/mt and CIF shanghai stood at $145-$155/mt. Today LME C-3m valued at $6.5C, while the SHFE Spot/LME 3M arb also retreated to around 7.74, the spot import loss to RMB215/mt and expanding loss slightly in forward market, around RMB770/mt lost. Custom duty exempt brands, Australian and Korean, still generate quite a gain of RMB50/mt in spot import market, but it may lose RMB555/mt in forward import.


Import losses for import zinc ingots today have been narrowed. Suppressed by a rising U.S. dollar index, LME zinc fell below the level of $3200 support, with the supply of zinc ingot B/L being not much. Premium of Shanghai bonded warehouse is stable at around $150/tonne. Most buyers have reduced the demand for zinc ingots, with inquiries being the main tone in the market. Actual purchase is limited and transaction price will still have a slight reduction, with overall transaction being flat. 

Edited by SHMET

Aluminum – Premium stable, with market activity seeing no recovery

Date Apr 26 2018 16:34:33Source:SHMET

Traders reported that spot premiums CIF shanghai remained at level $120-$140 as usual, so did the physical warrants. LME C-3m valued edged to $3.5B. SHFE Spot/LME 3M arb flattened out at 6.44, suggesting importing may lose around RMB3050/mt in spot market and RMB2965/mt in forward market.


Today, aluminum price has no obvious change from yesterday. The United States wanted to ease sanctions on Rusal previously, prompting a fall for four straight days. Currently, aluminum price has been back to the level of $2200, with the premium for aluminum ingots being stable. Profits taken by traders are limited, with trading volumes being small. Market participants have a rising sentiment of sitting on the sidelines, with overall activity seeing no recovery.  

Edited by SHMET

Copper – Buyers purchase at low prices, with trading volumes being stable

Date Apr 26 2018 16:33:40Source:SHMET

Premiums for CIF in Shanghai stood at $65-$85, while that for shanghai bonded warehouse flatted at $70-$85. LME C-3m valued was $38.5C. SHFE Spot/LME 3M arb stayed steadily at around 7.43, with a spot import gain of RMB205/mt, whilst 3M SHFE/LME arb may have a loss of about RMB 220 /mt, with ratio of 7.47.


ER copper premium quotation in the market is generally at around $80/tonne, with delivery three days before arriving at the port, mainly for Forward to the port. The dollar index stands at 90 mark, slightly suppressed the copper price, but is largely unchanged from yesterday’s price. Some buyers purchase at low prices and good brand ER copper sellers insist on a higher price, with overall trading volumes being stable, having no obvious improvement.  

Edited by SHMET

Nickel – Market participants are mainly sitting on the sidelines, cautious about their purchase in the market

Date Apr 25 2018 14:41:26Source:SHMET

With regards to NI FP, offers in Shanghai bonded zone keep standing at the range of $180-$210, so is premiums for CIF. The SHFE Spot/LME 3M was at 7.34 and that for 3M SHFE/LME 3M at 7.32. Russian Ni registered a loss of RMB3385 in spot (2%of import tax) and a loss of RMB3965 3M forward.


Traders’ offer for CIF Shanghai B/L Russian nickel premium is at around $195 / tonne. Premium for Russian nickel in shanghai bonded warehouse is at around $200/tonne. Actual purchase price will still have some reduction. The purchasing price is much lower than the desirable price of the seller, with buyers’ inquiries being the main situation in the market. Buyers are very cautious about purchasing cargoes. At present, the market as a whole cannot drive the activity of consumption, with a rising sentiment of staying on the sidelines by traders.

Edited by SHMET