US briquette premium creeps up
- Some US sales pushed up the US nickel briquette premium incrementally
- Europe welcomes a return to contango in the London Metal Exchange nickel forward price spread
- Shanghai nickel premiums were flat in a scant spot market.
The nickel briquette premium crept up by 1 cent at the top of the range in the United States on Tuesday, based on a couple of isolated sales that surpassed the range held for the previous three weeks. But the move up could be a blip, according to the seller involved who was not convinced that briquette premiums have moved into a higher range now that we have entered a new year.
Fastmarkets’ assessment of the nickel briquette premium, delivered Midwest US was 13-19 cents per lb on Tuesday, up from 13-18 cents per lb on December...