Nickel premiums in all regions held steady in the week to Tuesday February 11.
European nickel premiums hold in illiquid spot market. The US nickel briquette premium could rise further, though it was flat this week. China nickel premiums were unchanged amid spot illiquidity on a closed arbitrage import window. Rotterdam nickel premiums stabilize in illiquid spot market
Premiums for all in-warehouse Rotterdam nickel grades were unchanged in the week to Tuesday February 11, tempered by illiquidity.
Fastmarkets' price assessment of the nickel briquette premium, in-whs Rotterdam was $20-60 per tonne on Tuesday, flat week on week. The assessment had increased by $10 per tonne at the top end of the range from $20-50 per tonne on February 4, a range held since October 8 2019.
Participants reported that supply of material was more than adequate to satisfy demand while the market itself remained subdued, evidenced by rising London Metal Exchange nickel stocks.
LME nickel stocks were 208,722 tonnes on February...