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 being offered, with volatility in the London Metal Exchange...