The United States nickel briquette premium dipped at the top end of the range in the week to Tuesday May 5, pushed lower by increased selling momentum at lower levels, while nickel premiums in Europe and China remained flat.
?EUR? Virus-weakened demand pushed US briquettes premiums lower
?EUR? China public holidays and a lack of arbitrage opportunities kept regional premiums unchanged
?EUR? Lackluster European demand for physical nickel maintained premiums
US premium slips on cheap supply
Briquette premiums declined in the United States with weak spot demand exacerbated by new sources of cheap supply.
Intermittent US market participants are back offering briquettes, along with others who were also said to be offering traders briquettes at near to cost price.
Fastmarkets' assessment of the
nickel briquette premium, delivered Midwest US, was 16-19 cents per lb on May 5, down 1 cent on the high end from 16-20 cents per lb on April 28.
Yet,...