Nickel - SHMET Import Market Briefing 20171010

Date 10/10/2017 6:14:35 PM Source: SHMET

With regards to NI FP, offers in Shanghai bonded zone keep standing at the range of $320-$380 ,and so does CIF delivery. The SHFE Spot/LME 3M arb for Russian NI was stable, at 8.13 and that for 3M SHFE/LME at 8.04, equated to a gain of RMB760/mt in spot and a profit of RMB613/mt 3M forward.

SHFE/LME arb window has opened and nickel imports continue to be profitable. Production and profit in downstream steel works are in good condition. The spreads between nickel and stainless steel have been narrowed, with sellers insisting on their high premiums.

Report by SHMET