US cut cathode premium edges lower
- US cut cathode premium creeps lower.
- European uncut cathode premium benefits from increased activity.
- Chinese premiums unchanged in quiet conditions.
Spot nickel premiums in the US were little changed this week, but several sources said they were hopeful of an uptick from recent low levels since domestic supply seems to be tightening.
Most of the past week’s reported trades were for cut cathodes, the premium for which softened at the low end of the range, reflecting the bulk of business done at lower levels.
Fastmarkets’ assessment of the nickel 4x4 cathode premium, delivered Midwest US
was 33-42 cents per lb on Tuesday, widening downward by 1 cent per lb from 34-42 cents per lb a week earlier.