European premiums fall
- Nickel briquette premiums fell, with market participants liquidating stock before the end of the calendar year.
- Seasonal year-end pressure pushed nickel premiums lower in China.
- Premiums in the United States were unchanged, with little liquidity in the market.
Nickel premiums in Europe declined slightly over the week, with market participants attempting to sell material at lower premiums during the year-end liquidation period.
“We are in December now. [Liquidations] can happen toward the end of the year,” a producer said.
The premium for uncut nickel cathodes in Rotterdam on an in-warehouse basis
widened downward to $200-260 per tonne on December 4, from $210-260 per tonne the week before.
Only one deal was reported at the lower end of the range, with market participants saying that year-end sell-offs were in full swing.
“As you get to the year-end, there are people who are under pressure to liquidate. Most people...