The Import Profits Are Lucrative amid Rising SHFE/LME Nickel Price Ratio

SHANGHAI, Oct 15 (SMM) – The import profits expanded amid rising SHFE/LME nickel price ration this week. But the market quotations of nickel plate and nickel briquette in US dollar are hardly to be found, and the spot transaction in US dollar has also been sluggish amid high quotations, mainly because most traders chose to do the import business in US dollar directly.

There are likely to be more arrivals of nickel plate and nickel briquette amid the current SHFE/LME price ration. However, as the domestic arrivals are at a high level, the downstream sector will be slow in consuming high-priced products. Therefore, the SHFE/LME price ratio is likely to correct down.