A pick up in demand has effected universal upward pressure on nickel premiums in the United States, with increased liquidity in the European full-plate market pushing premiums up, while all Chinese premiums were trading flat amid the closed import window.
Premiums tick up in fairly brisk US tradeUS premiums moved up for both nickel briquettes and 4x4 cut-cathodes in a busy domestic spot market, with most sales reported at the high end of the assessment range.The Fastmarkets' price assessment for the US nickel briquette premium, delivered consumer works, was 25-29 cents per lb on Tuesday April 9, up one cent on both ends from 24-28 cents per lb on Tuesday April 2.The Fastmarkets' price assessment for the US nickel 4x4 cut-cathode premium, delivered consumer works, was 38-47 cents per lb on April 9, up on the high end from 39-45 cents per lb on April 2.Despite participants citing ongoing backlogs in European cathode cutting capacity there was slightly more cut-cathode business reported with sales of US cut-cathode reported with a premium of up to 49 cents per lb. A contrarian source, who offered higher than normal purity 4x4 cut-cathode at...