The latest decline comes mostly because some producers are selling at any price in an attempt to make their third-quarter results look better before the September 30 deadline, multiple market sources said.
This comes amid weak end demand due to the Covid-19 pandemic.
Fastmarkets’ assessment of the nickel briquette premium, delivered Midwest US
, was 12-18 cents per lb, or 15 cents per lb at the midpoint, on Tuesday September 8.
The US briquette premium was at its highest when it was first introduced, on March 13, 2018. Fastmarkets then assessed the premium at 28-35 cents per lb, or 31.5 cents at the midpoint, a level maintained until August 14, 2018.
A slowing economy and...