Nickel Import in Current Month Reaps Profit
- Views:0
- Author:
- Publish Time:2019-10-29
- Origin:
According report nickel prices remained range bound as market had both bullish and bearish news. Import losses for spot refined in current month turned into profit, ending a long period of loss. Three month import remained at a loss. Actual ratio in spot month continued to trend higher from a day earlier, but declined slightly in three month. Market sentiment remained cautious despite an import profit. And the sustainability of profitability remains to be seen.
As of 14:00, 29th Oct, imported profit of spot Russian nickel was 457 yuan/mt, and losses at 5,483 yuan/mt in forward import.
In the nickel market, premiums for nickel cathode under bill of lading in Shanghai held at c60-0/mt, and those under warrants in Shanghai bonded warehouse stood at c60-0/mt. Shanghai/LME 3M nickel price ratio increased to 8.16 and that for SHFE/LME 3M ratio at 7.82.
