Nickel – NI FP has a room to rise, with ample supply of raw materials

Date 2/12/2018 4:42:38 PM Source: SHMET

With regards to NI FP, offers in Shanghai bonded zone keep standing at the range of $300-$350, and so does CIF delivery. The SHFE Spot/LME 3M arb for Russian NI was stable, at 7.60 and that for 3M SHFE/LME at 7.62, equated to a loss of RMB1747 in spot (2%of import tax) and a loss of RMB2058 3M forward.

The downstream is nearly in the holiday mode and the supply of nickel concentrate and NPI is ample, which further restricted the prices, but in the long run, NI FP prices still have a room to rise. The overall transaction in the imports of nickel premium market.

Edited by SHMET