Premiums stable in the US on tight supply, while modest demand for spot cargoes is unable to motivate sellers to divert supply
Chinese premiums unchanged, but weak import demand and a negative arbitrage weigh
Low trading activity for both Chinese and European nickel units ahead of Chinese New Year holidays
US premiums stout but cathode tightness starting to ease
The US remains short nickel units but global traders are not particularly motivated to divert supply because the modest volumes required are not worth the risk or costs to sellers.
“The trouble with US business that the spot quantities [requested] are so small – it is truckload business – so there’s not a huge incentive to move much material across – hence it will always be tight. If business falls, you end up with stock sitting for a long time,” a European trader said.
Melting-grade nickel premiums in the US were...