Comments

Nickel –overall transactions are light

Date 1/12/2018 4:51:20 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 7.84 and that for 3M SHFE/LME at 7.86, equated to a loss of RMB1418 in spot (2%of import tax) and a loss of RMB1758 3M forward.

Today, nickel price is down, Jinchuan has small number of transactions. Russian nickel is cost-effective and its transaction is more active than that of Jinchuan. As it is close to the weekend, the overall transaction in the market is flight with limited trading volumes.The overall transaction in the imports of nickel premium market maintains flat.

Edited by SHMET