GLOBAL NICKEL WRAP: Premiums flat on weak demand in all regions during pandemic

Global nickel premiums held steady amid the ongoing Covid-19 pandemic in the week to Tuesday April 28, with demand lackluster in all regions, sources said.

Sluggish spot trade keeps premiums in the United States steady China premiums flat on closed arbitrage window, lack of appetite  European premiums unchanged despite forward demand optimism  US in holding pattern
Slow spot trade amid the ongoing Covid-19 pandemic left nickel premiums unchanged in the United States, Fastmarkets heard this week.

Although there was talk of some notably cheap supply on offer, one seller said that neither distressed selling on the downside nor production cuts on the upside were moving spot premiums since nobody is buying.

“Hopefully we’ll have rebound on the other side of the coronavirus," the same seller said.

“Is July the new September?” the seller said rhetorically, referring to the seasonal pick-up in business...

Published

Orla O'Sullivan

Amy Hinton

Sally Zhang

April 29, 2020

15:35 GMT

London, New York, Shanghai