US briquette ‘fire sale’
- China full-plate premiums stable; potential arbitrage loss dampening spot consumption and capping local premiums
- European premiums flat; fresh inflows of material into LME system failed to exert further downward pressure on already-low rates
The US nickel briquette premium fell for the second consecutive week amid reports of oversupplied sellers trying to clear stocks before the end of the year.
But market participants were skeptical that the low premiums in the region are sustainable, forecasting an increase in the New Year.
Fastmarkets’ assessment of the nickel briquette premium, delivered Midwest US
was 13-18 cents per lb on Tuesday December 17, down from 18-20 cents per lb on Tuesday December 10 and 18-21 cents per lb on December 3.
“I have not seen US briquette premiums at 18-20 cents per lb for...