Heavy Imports Push up Nickel Premiums Higher-Shanghai Metals Market

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Heavy Imports Push up Nickel Premiums Higher

SMM Insight 10:29:05AM Jan 15, 2013 Source:SMM

SHANGHAI, Jan. 15 (SMM) – It was reported that around 1,000 mt nickel was imported via Shanghai Customs. According to market players, market believed that the imports may be purchases from the State Reserve Bureau, which was in line with previous speculation.

In response, premiums at ports rose to USD 130-150/mt, with offers from overseas suppliers possibly higher. However, mainstream premiums still failed to push up premiums for finance-driven nickel, which was quoted with premiums between USD 50-60/mt.

Previously, transactions were not brisk before purchases from the State Reserve Bureau, and deals were largely driven by financial purpose.

Relative News

Price

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#1 Lead
Oct.18
17025.0
25.0
(0.15%)
#1 Lead - Guangdong
Oct.17
17000.0
150.0
(0.89%)
#1 Lead - Henan
Oct.17
16950.0
125.0
(0.74%)
#1 Lead -Tianjin
Oct.17
17000.0
175.0
(1.04%)
#2 Lead
Oct.18
16625.0
0.0
(0.00%)

Heavy Imports Push up Nickel Premiums Higher

SMM Insight 10:29:05AM Jan 15, 2013 Source:SMM

SHANGHAI, Jan. 15 (SMM) – It was reported that around 1,000 mt nickel was imported via Shanghai Customs. According to market players, market believed that the imports may be purchases from the State Reserve Bureau, which was in line with previous speculation.

In response, premiums at ports rose to USD 130-150/mt, with offers from overseas suppliers possibly higher. However, mainstream premiums still failed to push up premiums for finance-driven nickel, which was quoted with premiums between USD 50-60/mt.

Previously, transactions were not brisk before purchases from the State Reserve Bureau, and deals were largely driven by financial purpose.