GLOBAL NICKEL WRAP: US briquette premium up on supply shortage; Chinese, European rates flat

The premium for nickel briquettes in the United States increased amid tight supply on Tuesday February 2, moving closer to the premium for cut cathodes.

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...


Hassan Butt

Orla O'Sullivan

Sally Zhang

Yingchi Yang

February 03, 2021

08:00 GMT

London, New York, Shanghai