• US nickel briquette hits new high
• European 4x4 cathode premium hits two-year high
• Chinese premiums unmoved on thin market
US briquette breaks record; cut cathode holds
The nickel briquette premium in the US hit an all-time high on Tuesday, with scant supply and delayed arrivals resulting in spot deals being done higher within the previous elevated range.
Fastmarkets assessed the nickel briquette premium, delivered Midwest US at 75-90 cents per lb on Tuesday December 7, narrowing upward by 10 cents per lb from 65-90 cents per lb a week earlier. Prices had been at been at the latter range since November 9, and were - until the most recent week - the highest on record.
A trader who recently bought briquette near 65 cents per lb said earlier this week: “That’s the most I’ve ever paid for briquette. I expect to sell them at 75-90 cents [per...