China Nickel Buying Tempted by London Prices: Chart of the Day
This article is for subscribers only.
China may swing back to being a net importer of refined nickel as benchmark prices in London dropped below those in Shanghai for the first time in almost three years.
“Nickel prices in China have been more resilient than those in the overseas market,” said Celia Wang, an analyst at Beijing Antaike Information Development Co. “Supply is getting gradually tighter in China, so imports will rise in the coming months as the price gap narrows.”