Slight gain in the US briquette premium, but cut-cathode premium pulls further ahead
European nickel briquette premium rises to 4% week on week to $235-265 per tonne
US cathode premiums favored as 4x4s run short
The US nickel briquette premium improved on the low end despite thin trading conditions this week. Meanwhile, the cut-cathode premium was unchanged but market participants said they expect it to rise due to delays in getting cathodes cut, potentially widening the gap between premiums for briquettes and cathodes.
Fastmarkets assessed the US nickel briquette premium at 23-28 cents per lb, delivered consumer works, on Tuesday, up from 20-28 cents per lb the week before.
Fastmarkets’ assessment for the US nickel 4x4 cathode premium was 35-45 cents per lb, delivered consumer works on Tuesday.
Market participants reported a difficulty in sourcing 4x4s because of a backlog in cathode-cutting operations outside of the United States.