All European premiums remain unchanged in an illiquid market
US cut-cathodes outperform briquettes amid slow trade
Shanghai sees no change for six weeks, prepares for holiday lull
Macroeconomic uncertainty dampens European nickel appetite
European nickel premiums continued to trade flat in an illiquid spot market with continuing macroeconomic uncertainty from the United States/China trade negotiations leaving premiums universally unchanged.
Fastmarkets assessed the premium for uncut nickel cathode, in-warehouse Rotterdam, at $180-240 per tonne on Tuesday January 29, unchanged from January 22, but down from $190-250 per tonne two weeks before.
The premium for cut nickel cathode, in-warehouse Rotterdam, remained at $450-500 per tonne while the premium for briquette, in-warehouse Rotterdam was unchanged week on week at $235-265 per tonne.
The London Metal Exchange three-month nickel price closed trading at $11,895 per tonne on January 28, up $115 from January 25’s close of $11,780 per tonne but failing to breach the psychological...