GLOBAL NICKEL WRAP: European uncut cathode, US briquette premiums tick upward

The Rotterdam uncut nickel cathode and US nickel briquette premiums rose in the week to Tuesday January 28 on firmer demand for the former and weaker supply of the latter, while premiums in China held firm with participants out of the market for the extended Lunar New Year break.

  • The in-warehouse Rotterdam cut cathode premium rose at the top end of the range, with firmer demand enlivening spot sales and pushing deals higher week on week
  • US briquette premiums ticked up amid tighter domestic supply, which moved transactions in the region up over the same period
  • Chinese premiums were rolled over with participants absent for the lunar new year holiday, which has been extended until February 3 because of concerns about the coronavirus outbreak in Wuhan.

Europe uncut cathode premium keeps rising
The European uncut nickel cathode premium rose at the top end of the range in the week to January 28 with a revival in spot market activity, with firmer demand driving business upward week on week.

Fastmarkets assessed the nickel uncut cathode premium, in-whs Rotterdam, at $60-100 per tonne on Tuesday, widening upward by $10 per tonne from $60-90 per tonne the week before. The range had...

Published

Orla O'Sullivan

Amy Hinton

January 29, 2020

14:40 GMT

London, New York