SHANGHAI, Apr. 1 (SMM) – Premiums of imported ferronickel have been rising since the end of 2016 Chinese New Year holiday, Shanghai Metals Market reports, doubling levels seen before China’s holiday as of the end of March.
Currently, premiums for Ni 15% imported ferronickel are around $300-350 per tonne, and $250 per tonne for Ni 35% ferronickel, according to SMM data.
“Cargos are limited, and demand from stainless steel mills is rising, sending up the premiums,” one trader told SMM.
Falling supply and demand improvement will support higher premiums for imported ferronickel, SMM nickel analyst foresees.
Ferronickel output at foreign producers is expected to fall in 2016 due to big losses from sluggish prices, SMM survey finds.
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