Elsewhere, a closed import window in China and lackluster demand in Europe kept rates in both regions unchanged from the prior week.
Stable demand supports US nickel premiums
European nickel market remains static amid macroeconomic uncertainty
Chinese nickel premium unchanged amid sustained import loss
Stable demand keeps US nickel premiums steady
In the US spot market, premiums for nickel briquette and cut cathode were unchanged this past week amid steady demand.
Some buyers were said to be waiting on the sidelines, hoping for nickel prices to retreat further from the five-month high reached earlier this month. But the relatively few trades reported in the US spot market over the past week were all within Fastmarkets’ published ranges for standard volumes (truckloads).
Fastmarkets assessed the premium for nickel briquette, delivered consumer works US, at 24-28 cents per lb on February 19, unchanged from the previous week.