Global nickel premiums were largely unchanged in the week to Tuesday December 16, while in China, prices for nickel pig iron (NPI) and nickel sulfate responded positively to improved buying interest and strong nickel prices on the LME.
European and US premiums both steady in thin marketChina's NPI and nickel sulfate prices up; plate premiums static LME price spike keeps European premiums firm despite steady buying interest
European nickel premiums were flat in the week to Tuesday December 15 after a sharp rise in the London Metal Exchange three-month nickel price limited spot purchases, while sellers reported good interest in forward business beyond 2021.
Fastmarkets' assessment of the
nickel uncut cathode premium, in-whs Rotterdam, remained at $35-60 per tonne on Tuesday, its lowest level since January 2016 and flat since October 6 this year.
The LME three-month nickel price closed at $17,577 per tonne on Tuesday afternoon, notching a climb of just under 8% week on week from a closing price of $16,300 per tonne last week, with many market participants attributing the rise to robust steel demand in China.
In addition, continued developments...