European nickel premiums moved up in the week ended Tuesday September 18 with participants reporting tight supply in the uncut and cut nickel cathode markets; premiums in China were stable ahead of autumn holidays in Asia.
European nickel premiums move up on lack of availability Premiums in China stable in liquid market US premiums unchanged despite uptick in activity Nickel premiums in Europe move up in tight market Uncut and cut nickel cathode premiums in Europe rose on Tuesday with participants citing a tight, but liquid market. Cut cathode premiums shot up 7% on Tuesday to $420-480 per tonne, attributed to a continuing lack of availability. Long queues to get metal cut, higher financing rates and generally strong fundamentals have supported the premium in the past few months, but some question how sustainable the rally in premiums is. "[These premiums] can't be there forever. It's not easy to cut nickel, but it's not rocket science either," a trader in Europe said. Premiums for uncut...