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Nickel - SHMET Import Market Briefing

Date 11/14/2017 5:42:19 PM Source: SHMET

With regards to NI FP, offers in Shanghai bonded zone keep standing at the range of $300-$360, and so does CIF delivery. The SHFE Spot/LME 3M arb for Russian NI was stable, at 8.04 and that for 3M SHFE/LME at 8.03, equated to a loss of RMB467/mt in spot and a loss of RMB1263/mt 3M forward.

Under the condition of the high volatility in the nickel market, the role of capital is quite obvious. Speculative nature is getting stronger and in the short term, long-short scramble in LME nickel may extend or will have a wide volatility in a range of $12000 to $12800. It is suggested to step aside for the time being. There is no obvious improvement in the whole market transactions.

Edited by SHMET