US briquette premium ticks up
- Asian nickel premiums drops; arbitrage profits shrink
- US briquette premium up at lower end, while plate premium holds firm
- European market subdued on lack of physical appetite despite lower LME price
The US nickel briquette premium gained one cent at the low end of the range, reflecting spot sales concluded at or above 20 cents per lb in the week ending Tuesday. But cut-cathode business mostly remained within the existing range.
Fastmarkets’ assessment of the nickel briquette premium, delivered Midwest US
, was 20-23 cents per lb on Tuesday November 12, up from 19-23 cents per lb on Tuesday November 5.
Fastmarkets’ assessment of the nickel 4x4 cathode premium, delivered Midwest US
was at 35-43 cents per lb, unchanged week on week.
Some sellers reported lively business, partly because buyers were enticed by lower commodity prices.
“I think we are in...