Global nickel premiums continued to trade flat in the week to Tuesday March 24 despite regional business practises diverging in the fight against the 2019-CoV coronavirus. China continued its market return while the United States headed toward lockdown, and European participants remained firmly on the sidelines.
China's market return has yet to show in premium levels, with patchy spot trading on occasional arbitrage opportunity having little effectA flurry of panic buying ahead of an expected US lockdown left the market there similarly unmovedEuropean participants stayed out of the spot market, with production and subsequently spot demand gradually grinding to a halt.Fastmarkets' assessment of the nickel, min 99.8%, full plate premium, cif Shanghai, was $130-160 per tonne on March 24, flat from a...