Appetite for US material improved on increased demand from the US steel sector in the week to Tuesday March 19, while Chinese and European premiums traded flat in light of a closed import window and a dearth of demand from the European stainless steel sector respectively.
US spot premiums for cut and briquette material narrowed upward. China's closed import window continues to preclude any premium movement despite domestic market eyeing VAT cuts positively. European premiums flat and attitudes bearish despite 25.9% price surge in LME nickel contract since start of year and favorably-wide nearby and three-month contangoes. US spot premiums rise on expectations of strong Q2 The premium for cut cathodes moved up on the low end of the range for the first time in a year, rising by 2 cents per lb on Tuesday. This was attributed to improving demand and continued cathode-cutting delays. Meanwhile, the range for the US nickel briquette premium also rose on the bottom end due to sales reported at a higher level on better demand. Fastmarkets' assessment for the US 4x4 cut cathode nickel premium was 37-45 cents per lb, delivered consumer works on March 19, up from...