European spot nickel premiums steady with 2020 contracts in focus
- European traders eye long-term contract negotiations, limited spot trade reported.
- US market steady amid low buying interest ahead of Thanksgiving holiday.
- Closed import window in China stifles activity.
Spot nickel premiums in Rotterdam were steady on Tuesday, with most market participants looking ahead to negotiations for supply in 2020.
Fastmarkets assessed the nickel uncut cathode premium, in-whs Rotterdam
at $50-80 per tonne on Tuesday, unchanged since October 8, while the nickel briquette premium, in-whs Rotterdam
was at $20-50 per tonne, also unchanged for nearly two months now.
The nickel 4x4 cathode premium, in-whs Rotterdam
was flat from a week ago at $210-250 per tonne on Tuesday.
“There’s no activity and no spot buying,” a European consumer said.
With a quiet spot market, participants continue to look ahead to signing deals for next year. Those contracts could conclude as late...