US 4x4s decline while briquettes hold
- US cut cathode premiums dip at low end, reflecting additional supply in weak spot market
- European physical market remains bearish because of LME price volatility; buy-side participants await price correction
- Asian premiums hold in subdued spot market; waning import arbitrage opportunity dampening buying appetite
Cut-cathode nickel premiums declined at the low end of the range on Tuesday September 10 for the first time since April because of reported oversupply of material while nickel briquettes held their range for a second week.
Fastmarkets’ assessment of the nickel 4x4 cathode premium, delivered Midwest US
, was 35-43 cents per lb on September 10, down from 37-43 cents per lb on September 3.
The cut-cathode premium had held in that range since August 13; previously, it had barely changed since April. The annual high was 38-47 cents per...