GLOBAL NICKEL WRAP: Premiums flat to lower across the globe

Premiums have fallen in the United States over the past week on a year-end push for sales while rates in China are mixed and those in Europe are flat.

  • US starts holiday season with briquette sell-off
  • Shanghai bonded-zone full-cathode premium declines
  • Little spot trade in Europe so assessments unchanged
Downturn for US premiums
Nickel reversed lower in the US largely because an aggressively low, oversupplied seller of briquettes, Fastmarkets understands. That also had a knock-on effect on the premium on cut-cathode.
The briquette had risen slightly over the previous two weeks of assessments, based on some sales at the high end of Fastmarkets range, although market participants had not generally been bullish.
Fastmarkets assessed the nickel briquette premium, delivered Midwest US at 18-21 cents per lb on Tuesday November 26, down from 20-24 cents per lb on November 19. The nickel 4x4 cathode premium, delivered Midwest US fell to 34-42 cents per lb from 35-43 cents per lb.

Most briquettes are now selling at or just below 20 cents per lb, market participants largely agreed, triggered...


Violet Li

Orla O'Sullivan

Amy Hinton

November 27, 2019

18:30 GMT

New York, London, Shanghai