US nickel premiums tumble to 9-year low

Jun 08, 2012 | 02:23 PM | Thorsten Schier

Tags  nickel premiums, melting grade, plating grade, Thorsten Schier

NEW YORK — Nickel premiums continue to decline, with melting-grade numbers hitting a nine-year low as spot activity weakened.

Melting grade premiums fell to between 20 and 23 cents per pound Thursday, the lowest level seen since mid-2003. Meanwhile, plating-grade material is between 50 and 55 cents per pound, the lowest level since August 2009.

"The last couple of weeks have been incredibly slow," one trader said.....

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