ARBITRAGE 11.25: Nickel Import Loss Widens
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- Publish Time:2019-11-26
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Nickel price was weak. Import loss for refined nickel in current month continued to expand from last week, and that of three month also widened further. Actual ratio in spot month and three month fell sharply again from a day earlier. The profitable import window closed, and nickel market remained cautious. Bonded premium for nickel had no change for the time being.
As of 14:00 today, imported loss of spot Russian nickel was 2,904 yuan/mt, and losses at 5,559 yuan/mt in forward import
.
In the nickel market, premiums for nickel cathode under bill of lading in Shanghai held at $115b-$185b/mt, and those under warrants in Shanghai bonded warehouse stood at $115b-$185b/mt.
Shanghai/LME 3M nickel price ratio increased to 8.01 and that for SHFE/LME 3M ratio at 7.85.
