European briquette premium rebounds on rumored Rotterdam shipping delays
- European nickel briquette premium rebounds on reported shipping delays out of Rotterdam warehouses, tightening the physical market
- US nickel briquette premium dips at top end on trade macro uncertainty
- Closed import arbitrage window and subsequent lack of arbitrage profit opportunity keeps Chinese premiums stable at 14-month high
Volatility in the physical nickel-briquette market proliferated on Tuesday May 21, while participants reported a tighter market for material with suspected delays to shipments out of Rotterdam warehouses, which produced a higher premium.
Fastmarkets assessed the premium for European nickel briquettes, in warehouse Rotterdam
, at $200-250 per tonne on May 21, up from $190-215 per tonne in the previous week.
Weaker demand from steel mills had pushed the European briquette premium down steadily to $190-215 per tonne on May 14 - its lowest in almost two years - from $250-280 per tonne on April...