Nickel – LME nickel price falling back after rise, with stainless steel price being stable

Date 1/11/2018 5:58:47 PM Source: SHMET

With regards to NI FP, offers in Shanghai bonded zone keep standing at the range of $300-$350, and so does CIF delivery. The SHFE Spot/LME 3M arb for Russian NI was stable, at 7.80 and that for 3M SHFE/LME at 7.88, equated to a loss of RMB2423 in spot (2%of import tax) and a loss of RMB1955 3M forward.

Yesterday, LME nickel was turning higher and SHFE nickel opened with a high price, showing an obvious money game. The nickel briquette consumption in Taiwan is good and import profit and loss has fully reflected the cost of the increased import tax. import showed a loss of about 2000RMB.  Stainless steel price is stable and not affected by the nickel price. The overall transaction in the imports of nickel premium market maintains flat.

Edited by SHMET