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Home / Metal News / Adequate supplies lower Norilsk nickel premiums in Shanghai

Adequate supplies lower Norilsk nickel premiums in Shanghai

Aug 29, 2018 14:31

Source:SMM

There were no premiums of Norilsk nickel in Shanghai on Wednesday given sufficient supplies

SHANGHAI, Aug 29 (SMM) – Premiums of Norilsk nickel in the Shanghai market were heard at zero on Wednesday August 29 as supplies were sufficient, SMM research found.

This compared to a premium of 2,700 yuan/mt for Jinchuan materials over the Wuxi Stainless Steel Exchange September contract. Short supplies of Jinchuan resources pushed up prices. The producer of Jinchuan materials offered at 113,000 yuan/mt today.

About 8,000 mt of Norilsk materials entered the domestic market last week. Most traders held no Jinchuan materials.

Most transactions were heard at 110,000-112,800 yuan/mt today.

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