GLOBAL NICKEL WRAP: Virus-led concerns keep appetites weak, global premiums flat

Nickel premiums in China, the United States and Europe traded flat in the week to Tuesday March 11, while novel coronavirus (2019-CoV) disruptions further weakened poor appetite for physical nickel.

  • US market stagnates with virus unsettling trading activity
  • China premiums flat while the import arbitrage window remains firmly closed
  • European market maintains lackluster trajectory while LME volatility and coronavirus fail to further dent an already-subdued market
US trade pauses while coronavirus heads further west
Nickel premiums were unchanged week on week in the United States, with spot trade reduced while the global economy began to behave erratically amid a worsening novel coronavirus (2019-nCoV) outbreak.
Fastmarkets’ assessment of the nickel briquette premium, delivered Midwest US remained at 17-20 cents per lb on March 10, unchanged from March 3.
Fastmarkets assessed the premium for nickel 4x4 cathode, delivered Midwest US at 33-42 cents per lb on Tuesday, remaining within its existing weekly range.

The New York Stock Exchange halted trading on Monday March 9 following the...


Violet Li

Orla O'Sullivan

Amy Hinton

March 11, 2020

17:02 GMT

Shanghai, London, New York