Nickel premiums fall to multiyear lows
May 10, 2012 | 04:40 PM
| Thorsten Schier
Tags
nickel premiums,
melting grade,
plating grade,
Thorsten Schier
NEW YORK — Nickel premiums have fallen to multiyear lows as supply continues to outweigh demand.
Premiums for melting-grade material have fallen to between 20 and 25 cents per pound, a range not seen since December 2003, while plating grade is at 50 to 60 cents per pound, the lowest range since August 2009.
"There’s a lot of competition on the business . . . and I don’t see that changing in the future. To me, it’s because business is slow in Europe and suppliers are trying to unload material over here," according to one trader.....
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