US briquettes down again
- Cheaper global supply caps US domestic briquette interest
- Thin liquidity limits European market
- Arb losses hamper China demand
Nickel briquette premiums declined again in the US over the past week on weak demand and ample supply, to which renewed sources of cheap supply from overseas have recently added.
Fastmarkets’ assessment of the nickel briquette premium, delivered Midwest US
was 15-18 cents per lb on June 2, down from 15-19 cents per lb on May 26. This is the third weekly decline in the briquette premium since April 28.
Cut cathodes, a less traded form, were unchanged at the lower level in place for the past three weeks. Fastmarkets’ assessment of the nickel 4x4 cathode, delivered Midwest US
was unchanged at 33-38 cents per lb on June 2.