A high nickel price, among other factors, has subdued the nickel briquette premium in the United States while nickel premiums in China and Europe hold steady amid scant spot trade, sources told Fastmarkets on Tuesday November 24.
Low producer offers reportedly sent US briquette premiums down againChinese premiums steady with a lack of trading activity Thin trading leaves European premiums unmoved also
US briquettes fall amid sharp competition
The nickel briquette premium fell for the third consecutive week, hitting new lows on more widespread reports of aggressive selling, generally believed to be coming from producers, in the United States, sources said.
Fastmarkets' assessed the
nickel briquette premium, delivered Midwest US at 10-14 cents per lb on November 24, down from 12-16 cents per lb on November 17. The premium previously held at 14-17 cents per lb from October 20 to November 3.
Again, there were reports of some deals being done well below the new range amid intensified competition for spot business, Fastmarkets heard.
The substantial US nickel supply, weak spot demand, a downbeat tone to 2021 contract negotiations and the imminent end of the...