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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