US premiums continue to lift on multiple tailwinds
- 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
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...