GLOBAL NICKEL WRAP: US briquette premium declines amid destocking; China, Europe rates flat

The United States nickel briquette premium hit a fresh multi-month low in the week to Tuesday December 17, with aggressively low offers driving deals lower amid seasonal destocking, while premiums elsewhere were stable.

China full-plate premiums stable; potential arbitrage loss dampening spot consumption and capping local premiumsEuropean premiums flat; fresh inflows of material into LME system failed to exert further downward pressure on already-low ratesUS briquette 'fire sale'
The US nickel briquette premium fell for the second consecutive week amid reports of oversupplied sellers trying to clear stocks before the end of the year.
But market participants were skeptical that the low premiums in the region are sustainable, forecasting an increase in the New Year.
Fastmarkets' assessment of the nickel briquette premium, delivered Midwest US was 13-18 cents per lb on Tuesday December 17, down from 18-20 cents per lb on Tuesday December 10 and 18-21 cents per lb on December 3.

"I have not seen US briquette premiums at 18-20 cents per lb for...

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