GLOBAL NICKEL WRAP: Downstream demand props up European uncut, briquette premiums; bullish sentiment supports US premiums

Improved demand for nickel briquette and uncut cathodes in the stainless steel sector in Europe lent upward momentum to the lower end of the premium on Tuesday March 12, while nickel premiums in the United States and China remained unchanged.

The lower end of the premiums for European briquette and uncut cathodes rose following a pick-up in stainless steel demand  Briquette inquiries increased in the US but premiums are yet to react  China’s closed import window kept premiums stable European uncut cathode and briquette premiums increase; 4x4 flat for 15th week Market participants reported increased demand for uncut cathodes and briquettes this week, supporting an uptick in the European premiums for these materials. Fastmarkets assessed the premium for uncut nickel cathode, on an in-warehouse Rotterdam basis, at $190-220 per tonne on Tuesday, up $10 on the low end from $180-220 per tonne the week before. The European nickel briquette premium was at $250-280 per tonne on Tuesday. The briquette premium has followed a more volatile trajectory in recent weeks. It had remained static at $240-280 per tonne between February 5 and 26, briefly dipping to $240-270 per tonne...


Violet Li

Orla O'Sullivan

Amy Hinton

March 13, 2019

09:48 GMT

Shanghai, London, New York