GLOBAL NICKEL WRAP: US briquette premium rises in flurry of spot trade

The US nickel briquette premium continued to ascend in the week to Tuesday October 20 amid increased spot business at higher levels while lackluster appetites kept all other regional premiums stable over the period.

Spot deals for US briquettes enlivened at higher levels, pushing the premium up from historic lows hit in September. Sustained lack of arbitrage opportunities in China kept premiums there unchanged. European market held firm at already-low levels after stainless steel consumers moved prices lower in early October. US briquettes climb from September low
The nickel briquette premium rose in the United States on an unusual level of spot sales reported at higher prices.
With most transactions concluded at the 14-15 cent per lb level, Fastmarkets' assessment of the nickel briquette premium, delivered Midwest US narrowed up to 14-17 cents per lb on October 20, from 12-17 cents per lb in the previous three weeks. 
Some sales were reported at 18 cents, but Fastmarkets is monitoring whether that level is sustained.

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