GLOBAL NICKEL WRAP: US 4x4 nickel premium declines; all other premiums flat

In the United States, the nickel 4x4 cut cathode premium weakened on the high end while nickel briquette premiums held their wide range, European market players eyed the forward curve and Chinese players maintained focus on the import window.

  • US 4x4 nickel cut cathodes respond to falls from cheaper nickel forms
  • European premiums steady but backwardation may signal a future sell-off
  • Chinese premiums flat on lack of arbitrage and ample supply
US 4x4 premium makes first move since April
Premiums for nickel cut cathodes in the United States moved for the first time since April, following downward pressure from other nickel premiums of late, although the premium for nickel briquettes remained the same as last week.
Fastmarkets’ assessment of the nickel 4x4 cathode premium, delivered Midwest US was $0.37-0.43 per lb on Tuesday August 13, down from $0.37-0.45 per lb on August 6.
Fastmarkets’ assessment of the nickel briquette premium, delivered Midwest US was $0.18-0.26 per lb on August 13, unchanged from August 6.

Business was clustered in the nickel briquette premium range, although market participants said a wide range of premiums are...


Justin Yang

Violet Li

Orla O'Sullivan

August 14, 2019

17:40 GMT

London, New York, Shanghai