Shanghai Exchange Seeks Foreign Nickel to Help Ease Shortage
The Shanghai Futures Exchange plans to allow delivery of foreign-made nickel into its futures contracts as it seeks relief from a shortage of domestic supply to the bourse.
Russia’s OAO GMK Norilsk Nickel, the world’s largest producer, is among suppliers the exchange plans to authorize, SHFE said Friday in an e-mailed response to questions. Six brands made by six domestic companies are currently deliverable into the SHFE futures, which started trading in March. That compares with 59 brands for its copper contract and 23 for the London Metal Exchange.