GLOBAL NICKEL WRAP: Chinese, European premiums unchanged ahead of CNY; US premiums stable on limited spot supply

Nickel premiums in the United States were unchanged on Tuesday February 13 due to limited spot cargoes supply, while flat premiums in China and Europe were attributed to quiet demand in the run-up to Chinese New Year.

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...

Published

Ellie Wang

Tom Jennemann

Justin Yang

February 14, 2018

09:54 GMT

Shanghai, London, New York, Singapore