RE:RE:Russian nickel bombSo I have been watching this week carefully and in general prices at the moment seem about the same between LME and SME once you adjust for the 13% VAT. I was quite surprised to read in this article that the SME is usually lower. I thought it was the other way around and that Chinese buyers were paying a premium.
rkhosla wrote: ?? Is this true?? I thought even after VAT adjustment SME was consistently higher than LME Ni price: "
The Chinese government has asked local buyers to sign contacts priced on Shanghai Futures Exchange prices, which are traditionally lower than on the LME, but less volatile, the people said. That’s the major subject in those talks, they said." autofocus111 wrote: If NILSY cuts production 10% that should set off some nice fireworks.
>>>(Bloomberg) -- MMC Norilsk Nickel PJSC is considering cutting nickel output by about 10% next year as some European buyers shun Russian supplies and amid a potential surplus of the metal. The miner controls roughly a 10th of the global nickel market and had targeted producing 205,000 to 215,000 tons of the metal this year. It has already informed some clients of a plan to lower output, according to people familiar with the matter who asked not to be identified as the information isn’t official.
https://www.bnnbloomberg.ca/russian-mining-giant-nornickel-mulls-cutting-output-10-next-year-1.1861756