Chinese nickel premiums were unchanged at a 14-month high as of Tuesday May 7, according to Fastmarkets' latest assessments, in a week of multiple holidays and subdued trading.
Elsewhere, the premium on European cathodes stabilized while those of briquettes continued lower. In the United States, similarly, the briquette premium dipped slightly while that of 4x5 cut cathodes was unchanged. Briquettes still losing out to other nickel forms in Europe US spot trade flat to lower on mediocre steel demand Full-plate cathodes barely trade during holidays in ChinaEuropean briquette premium slides towards two-year lowThe European premium for nickel briquettes continued to weaken under the weight of dampened demand - a lack market liquidity caused by Asian and European holidays failed to steadying the market.Fastmarkets assessed the premium on nickel briquettes, in warehouse Rotterdam, at $200-225 per tonne on Tuesday May 7, down $5 per tonne at the top end of the range from $200-230 per tonne on April 30.This is almost a two-year low - it is 22 months since the premium last hit those levels in July 2017.Downward...