Quiet market conditions while the United States and Europe emerged from Christmas holidays and while China prepares for its Spring Festival have kept nickel premiums largely unchanged.
But rates on briquettes are showing some signs of downward pressure, market participants said this week. US briquette rate dips but LME drawdowns continue European premiums unchanged, excess briquettes reported Chinese premiums stable while Shanghai stocks declineUS spot deals limited in scope, price rangeSpot sales of nickel briquettes and cut cathodes were light and in line with recent premium ranges in the US despite reported producer tightness and continued declines in stocks in the London Metal Exchange system.The premium for full truckloads of briquettes gravitated towards the low end of a range that has been steady since November 27. Fastmarkets assessed the US nickel briquette premium at 23-28 cents per lb delivered consumer works on January 8, down one cent at the low end from December 31.Fastmarkets' assessment of the US nickel 4x4 cathode premium was 35-45 cents per lb delivered consumer works on January 8, unchanged from December 31.The...