GLOBAL NICKEL WRAP: Premiums flat globally

Global nickel premiums were unchanged in the week ended Tuesday December 3 amid limited spot activity while participants were busy focusing on long-term contract negotiations or celebrating regional holidays.

  • 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.

European spot nickel premiums steady with 2020 contracts in focus
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...

Published

Justin Yang

Violet Li

Orla O'Sullivan

December 04, 2019

09:30 GMT

Shanghai, London, New York