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Jinchuan nickel spot premiums stay high in Shanghai on tight supply
Aug 6,2018 15:09CST
price review forecast
Source:SMM
The price spread between Jinchuan and Norilsk nickel remained wide in the Shanghai spot market on Monday

SHANGHAI, Aug 6 (SMM) – The price spread between Jinchuan and Norilsk nickel remained wide in the Shanghai spot market on Monday August 6 due to tight supply of Jinchuan materials.

Norilsk nickel traded at a premium of about 100 yuan/mt over the Wuxi Stainless Steel Exchange 1808 contract while Jinchuan was trading at a premium of about 1,400 yuan/mt. This compared with a 300-yuan/mt spread a month ago.

Meanwhile, steel mills stood on the sidelines as they had stockpiled at low prices last week. Transactions across the market were mostly heard at 109,900-111,350 yuan/mt this morning.

 

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