US premiums hold in slow trade
- United States’ nickel spot trade slowed having enlivened in previous weeks while appetites wane over the first quarter
- Novel coronavirus (nCoV-2019) shutdowns continue to hamper spot deals in China, with arbitrage losses further muting trade
- European nickel premiums held firm, with a lower London Metal Exchange three-month nickel price and rising stock levels failing to incite spot consumption
Nickel premiums were unchanged in the United States spot market, which was less active than in recent weeks.
The assessment week to Tuesday February 18 included the President’s Day holiday on Monday, but that does not explain why standard truckloads of briquettes sold low in the existing range. The previous week, however, briquettes look poised for another possible uptick, with some business concluded above the range.
“Light sales last week,” one normally active seller said. “I’m not sure if...