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Nickel – buyers cautious about buying cargoes, with market transactions being light

Date 4/16/2018 5:43:25 PM Source: SHMET

With regards to NI FP, offers in Shanghai bonded zone keep standing at the range of $250-$280, so is premiums for CIF. The SHFE Spot/LME 3M was at 7.43 and that for 3M SHFE/LME 3M at 7.46. Russian Ni registered a loss of RMB2166 in spot (2%of import tax) and a loss of RMB2030 3M forward.

The offer for CIF SHFE Russian nickel is at around $270/ton, with cargo holders selling with a high price. There is some Norwegian nickel in the market, but with no buyers inquiries coming in. buyers are cautious about buying cargoes, with transit trade being slightly better than general trade.

 

Edited by SHMET