GLOBAL NICKEL WRAP: US briquettes hit new high; China, Europe premiums steady

United States nickel briquettes premiums surged by 9.2% this week amid supply tightness and high freight costs while China premiums remain steady under a price gap between buyers and sellers and European premiums are stable, Fastmarkets learned.

  • US briquettes reached a new high while cathode premiums are also up by 11.6%
  • China duty-free briquettes began long-term contract negotiation for 2022 amid growing demand while cathode premiums were unmoved amid a price gap
  • European premiums are well by strong demand from the vehicle electrification market
US premiums continue to lift on multiple tailwinds
Nickel premiums rose in the United States for the third week in a row with continued upward pressure evident on regional supply tightness and high ocean freight costs to import the metal.
Nickel briquette, which is most in demand, reached a new high in Fastmarkets' assessments.
Fastmarkets assessed the nickel briquette premium, delivered Midwest US at 34-37 cents per lb on Tuesday July 27, up 9.2% from 30-35 cents per lb on Tuesday July 20.

The July 20 mid-point of 32.5 cents per lb surpassed the highest previous mid-point of 31.5 cent per...


Justin Yang

Orla O'Sullivan

Yingchi Yang

July 28, 2021

08:48 GMT

London, New York, Shanghai