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Nickel - SHMET Import Market Briefing

Date 12/6/2017 4:33:19 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 8.07 and that for 3M SHFE/LME at 8.01, equated to a gain of RMB110 in spot and a loss of RMB1289 3M forward.  

In terms of NPI, the impact of Indonesian phase ii stainless steel is expected to arrive at any time. Currently neither nickel concentrate nor stainless steel market can withstand the potential impact, so the stabilizing foundation of nickel price is not firm. In terms of nickel concentrate, Philippine monsoon has an increasing impact and domestic NPI enterprises are not overstocked. The overall transaction in spot market has been depressed.  Currently, stainless steel market remains depressed, with a lower demand for refined nickel. The overall warrant and inventory declines have slowed down. The overall transaction maintains flat in the nickel premium market. Edited by SHMET