Sellers in the United States hoped that the premium for nickel briquettes would rise further from a floor, while European nickel premiums held firm at new lower levels and Asia was quiet after holidays in the week to Tuesday October 13.
US focus switches to next year's contracts China sees minimal trading after week-long national holidays Europe market steady amid volatile LME price.
Minimal spot trade leaves US premiums flat
Nickel premiums were unchanged in the United States with, unusually, no spot sales reported for the more liquid form, briquettes.
The focus has switched from spot trading to 2021 contract business, one trader said.
Fastmarkets' assessment of the nickel briquette premium, delivered Midwest US, was 12-17 cents per lb on October 13, unchanged for three weeks and still close to its lowest ever level.
At 14.5 cents per lb at the midpoint, the premium was hovering just above the 14-cent midpoint seen on September 15. That was the lowest midpoint since Fastmarkets began tracking briquette premiums in March 2018.
"I'm hoping briquette [premiums] climb soon. The 12-17/18 [cents per lb] range is brutal and I'm not...