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.
China’s ore, NPI prices up; premiums stable
- 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.
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...