Premiums for full-plate nickel cathodes in China declined in the week to Tuesday November 12 as import arbitrage margins shrank, while in Europe premiums were flat and in the United States briquette premiums edged up.
Asian nickel premiums drops; arbitrage profits shrinkUS briquette premium up at lower end, while plate premium holds firmEuropean market subdued on lack of physical appetite despite lower LME price US briquette premium ticks up The US nickel briquette premium gained one cent at the low end of the range, reflecting spot sales concluded at or above 20 cents per lb in the week ending Tuesday. But cut-cathode business mostly remained within the existing range. Fastmarkets' assessment of the nickel briquette premium, delivered Midwest US, was 20-23 cents per lb on Tuesday November 12, up from 19-23 cents per lb on Tuesday November 5. Fastmarkets' assessment of the nickel 4x4 cathode premium, delivered Midwest US was at 35-43 cents per lb, unchanged week on week. Some sellers reported lively business, partly because buyers were enticed by lower commodity prices. "I think we are in the midst of...