Tight supply pushes up nickel premiums Europe, China

Limited supply sent premiums for nickel cathode in Europe and nickel briquette in China surging in the week to Tuesday November 30.

• European cathode premiums hit new year-to-date highs
• China’s briquette premium up by 27.3%
• US premiums flat due to Thanksgiving
Tight supply pushes uncut, 4x4 cathode premiums higher in Europe
Persistently tight supply in the European nickel market pushed premiums for uncut cathode and 4x4 cathode to their highest in at least a year during the week.
Limited availability of full-plate material forced buyers to scramble for material before the year end, pushing premiums. These price increases in turn pushed premiums for 4x4 cathode upward due to high additional cutting and packaging costs.
“Extra service has extra costs, and the customers must pay,” one trader in the region said.
Fastmarkets assessed the nickel uncut cathode premium, in-whs Rotterdam at $70-90 per tonne on Tuesday, up by $10 per tonne from $60-80 per tonne a week earlier. The premium is at its highest since October 2020.

Fastmarkets assessed the nickel...

Published

Yingchi Yang

Callum Perry

December 01, 2021

10:40 GMT

London, Shanghai