Nickel premiums graze multiyear lows
Apr 05, 2012 | 01:30 PM
| Thorsten Schier
Tags
nickel,
premiums,
prices,
melting-grade,
plating-grade,
nickel pig iron,
stainless steel,
LME
Indonesia
NEW YORK — Domestic nickel premiums remain under pressure as suppliers continue to battle over large-volume business, with both melting- and plating-grade material now grazing multiyear lows.
"The market’s still similar to the second half of last year," one trader said, citing a year-end pullback in premiums due to more aggressive selling, particularly by producers.
Melting-grade premiums have softened to between 20 and 29 cents per pound from between 20 and 30 cents per pound previously. One trader even reported losing a quote this week for two truckloads at 20 cents per pound, suggesting some uncharacteristic deals may even be garnering a discount.....
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