Elsewhere, premiums in China and Europe were unchanged this week, but the Chinese nickel sulfate price hit an all-time high on growing bullishness in the market.
- Lack of supply supports US briquettes
- Thin pre-holiday trade leaves Shanghai nickel plate premiums flat; nickel sulfate sets record high
- European premiums static amid minimal spot activity
US briquette, 4x4 premiums edge closer
The premiums for briquettes and cut cathodes moved in opposite directions this week, with cut cathode - normally a premium form of nickel - selling closer to the briquette price, market sources said.
Cut-cathodes were bought as a substitute for briquettes, amid what many market sources identified as a domestic shortage of briquettes, the more widely used form.
Fastmarkets heard of substantially lower priced cut-cathode sales than in recent months, while the limited quantity of briquettes in the US meant that they sold at higher premiums. Sales were reported at about the top...