Nickel premiums in the US and Europe were steady in the week to Tuesday February 17, with both markets broadly stagnant against a well-supported LME three-month nickel price, while Asia's absence from the market saw minimal spot activity.
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US premiums unchanged in scant trade
Nickel premiums in the United States were steady on Tuesday, with market conditions little changed from the previous week, sources said.
Fastmarkets' assessed the
nickel briquette premium, delivered Midwest US at 12-16 cents per lb on February 16, unchanged from February 9.
One seller reported a "lack of consumption" in the last couple weeks and said there has been "competition to get what little business there is."
According to sources, nickel briquette supply has been tight despite muted demand, which has led some to substitute other forms of nickel for briquettes.
The main briquette buyers, stainless steel mills, have been largely out...