US spot nickel briquette premium slip, 4x4 cut cathodes firm
European market stabilizes with nearby spreads recovering after January 15 backwardation
China continues to operate a stable market with low liquidity in the face of its Lunar New Year celebrations
US briquettes slip amid high supply, depleted demand
The nickel briquette premium in the United States fell by 3 cents on the low end on Tuesday after several market players reported plentiful supply, although 4x4 cut cathodes held firm.
The Fastmarkets price assessment for the US nickel briquette premium was 20-28 cents per lb, delivered consumer works, on Tuesday January 22, down from 23-28 cents per lb the week before.
Fastmarkets’ price assessment for the US nickel 4x4 cathode premium was 35-45 cents per lb, delivered consumer works, unchanged from January 15.
The first backwardation in years in London Metal Exchange nickel prices disappeared after the cash/three-month spread swung...