GLOBAL NICKEL WRAP: US briquette premium edges higher; other markets quiet to start the year

In what some market participants called a short-term move, the nickel briquette premium crept up in the United States on Tuesday January 7, while all other regions had a slow return to business after year-end holidays.

  • 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.
US briquette premium creeps up
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...

Published

Justin Yang

Orla O'Sullivan

Sally Zhang

January 08, 2020

17:26 GMT

New York, London, Shanghai