US premiums up on supply issues, sentiment
- US briquette and 4x4 premiums rose following reports of reduced production
- European briquette premium edges up in more active market
- Premiums in Asia flat with closed arbitrage
Nickel premiums in the US moved up on a confluence of factors, including improved sentiment and demand pitted against logistical and other supply disruptions.
Fastmarkets assessed the nickel 4x4 cathode premium, delivered Midwest US
at 28-32 cents per lb on April 20, up from 20-28 cents per lb on April 13, a 25% weekly increase and the premium’s first move in nine weeks.
Meanwhile, the more-traded nickel briquette premium, delivered Midwest US
rose to 15-18 cents per lb on Tuesday from 13-16 cents per lb on April 13.
The 14% increase, or two cents per lb on either end, came amid further tightening domestic briquette supply, amid high global demand for briquettes in...