The nickel briquette premium in the United States surged by 10% this week amid supply tightness while those in China also rallied amid a favorable arbitrage.
?EUR? US briquette premiums hit all-time high
?EUR? Chinese premiums rally to 2-year high
?EUR? European premiums stable
New peaks for both US premiums
Having been flat for many weeks, nickel premiums in the US rose to new all-time highs.
The two premiums remained in synch in the week to Tuesday October 26, gaining 10% apiece.
Isolated sales of both forms had been reported at around 60 cents per lb for several weeks, but many sources had said that the prevailing range of business was unchanged.
This week, many spot sales were reported in a higher range.
Fastmarkets assessed the
nickel 4x4 cathode premium, delivered Midwest US at 50-60 cents per lb on Tuesday, up by 5 cents per lb from 45-55 cents per lb a week earlier. The premium had been unchanged since August 17 previously.
Fastmarkets assessed the nickel briquette premium, delivered Midwest US at 50-60 cents per...