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Nickel - SHMET Import Market Briefing 20170912

Date 9/12/2017 3:27:40 PM Source: SHMET

With regards to NI FP, offers in Shanghai bonded zone keep standing at the range of $230-$250 ,and so does CIF delivery. The SHFE Spot/LME 3M arb for Russian NI was stable, at 7.86 this afternoon and that for 3M SHFE/LME at 7.87, equated to a loss of RMB2214/mt in spot and a profit of RMB923/mt 3M forward.

The high price of Russian Ni Spot has inhibited the demand of the downstream stainless Domestic environmental protection and steel mill production inspection have brought about the positive results for SHFE Ni, with bullish patterns expected to trend significantly higher, where better supply would be actively stimulated. The quotation remains the same as yesterday.

Report by SHMET