Nickel - SHMET Import Market Briefing

Date 12/7/2017 4:50:56 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 8.08 and that for 3M SHFE/LME at 8.01, equated to a gain of RMB16 in spot and a loss of RMB1086 3M forward.  

The supply side needs to continue to see if Indonesia’s export quotas are being cancelled, while on the demand side, the whole market remains weak. Currently, steel trade enterprises and steel mills insisted on a high price and there was a concentrated purchase at the beginning of the month ,so the demand side will appear a stabilizing rebound in the weak situation. The overall transaction maintains flat in the nickel premium market.   Edited by SHMET