GLOBAL NICKEL WRAP: Chinese ore price sets fresh high, US briquette premium finds new bottom

Chinese nickel ore and nickel pig iron (NPI) prices continued to rise in the week ended Tuesday September 15, but full plate premiums in the country were unchanged for a third consecutive week.

The nickel briquette premium in the United States found a new bottom amid more “desperate” selling before the fiscal quarter ends, while European rates benefited from some renewed demand.
  • Ore and NPI prices rise again in China.
  • Poor spot demand triggers producer bargains in the US.
  • European briquettes get a boost, maybe linked to Shanghai listing.

China’s ore, NPI prices up; premiums stable
The price of nickel ore in China reached a fresh high this past week, while the price of NPI also extended previous gains. But plate premiums were unchanged yet again with significant arbitrage losses keeping most traders sidelined.
Market sources attributed the strength in ore prices to low supply and the upcoming rainy season in the Philippines, a period when less material is exported from the country.

Fastmarkets assessed the laterite ore with 1.5% Ni content, cif China, at $63-65 per tonne on September 11, up...


Orla O'Sullivan

Amy Hinton

Sally Zhang

September 16, 2020

07:25 GMT

London, New York, Shanghai