Nickel briquette premiums in Shanghai and the United States rose in the week to Tuesday January 26, with domestic demand in both regions markedly improving. European premiums remained static, but buying interest was also notably better.
Improved arbitrage, demand support Shanghai briquette premiumReduced supply, higher offers bolster US briquettesEuropean sellers look to improving spot market amid price momentum.
Shanghai plate premiums flat; briquette premium up
The Shanghai nickel plate premiums were unchanged in the week to January 26 amid subdued trading sentiment ahead of the Chinese New Year holiday on February 11-17, sources said.
Fastmarkets assessed the
nickel, min 99.8%, full plate premium, cif Shanghai, at $100-110 per tonne on Tuesday, flat from a week earlier.
The corresponding calculation of the
nickel, min 99.8%, full plate premium, in-whs Shanghai, was also $100-110 per tonne on the same day, and similarly unchanged on a weekly basis.
With the approach of Chinese New Year holiday in mid-February, spot market activity has begun to slow down, Fastmarkets learned.
"Spot trading is quiet, and suppliers are keeping offers largely stable at around $150 per tonne. [They...