LONDON European nickel
premiums fell slightly this week as market participants
reported thin volumes and a lack of inquiries, particularly for
the most expensive grades of material.
AMM sister publication
Metal Bulletins daily nickel premium
in-warehouse Rotterdam fell to $151.91 per tonne Friday,
compared with $153.62 per tonne Thursday and $155.92 per tonne
Inquiries for 4x4 cathodes and
briquettes are especially scarce, traders said.
"We are still offering full
plate in Rotterdam, selling a few tonnes here and a few tonnes
there. There is no interest in briquettes or other locations,"
one trader said.
"Its (been) the same for
weeks, at least for us," the trader added. "I havent had
any inquiries on 4x4 material for a few months, and I last
traded at $200."
Premiums for uncut material are
at $20 to $100 per tonne, with most business reported above $50
Premiums for 4x4 material are at
$100 to $300 per tonne, with most deals coming in at $260 to
$280 per tonne.
Briquette premiums are at $30 to
$150 per tonne, with most deals being concluded closer to the
Uncut material in Rotterdam is
becoming more difficult to obtain through clearing, and traders
say premiums for both physical material and London Metal
Exchange warrants could rise as a result.
"Our premiums havent
changed, but brokers say theyve realised $5 to $10 more
than last week," a physical trader said.
Three-month nickel on the LME
settled at an official price of $15,255/$15,260 per tonne Aug.
Nickel stocks in LME-bonded warehouses stood at 114,900
tonnes Friday, down 156 tonnes overnight.