Nickel premiums fell in Europe and Asia while in the United States the 4x4 rate held steady, reflecting a lack of trade, but the premium on briquette - the more liquid form - fell.
Europe briquettes, full-plate and cut-cathode premiums fall while stocks balloon at LME-listed warehousesChinese premiums weaken against backdrop of LME backwardation, lack of arbitrage opportunities US buyers remain on sidelines while awaiting more stable conditionsMultiple bearish factors force Rotterdam nickel premiums lowerA high and volatile LME nickel price, a backwardation in the LME forward curve and increased supply pressured nickel premiums in Rotterdam lower on Tuesday September 17. Although the three-month LME nickel contract was just below $17,000 per tonne on Tuesday, it traded as high as $18,400 per tonne on September 12 - concerns about an Asian supply bottleneck have provided support over the past week. Fastmarkets assessed the nickel uncut cathode premium, in-whs Rotterdam at $190-220 per tonne on Tuesday, down from $200-230 per tonne a week earlier. Some participants reported hearing premiums even below the range but a lack of liquidity in the market limited...