Melting-grade nickel premiums rise off lows
Jul 11, 2012 | 03:52 PM
| Thorsten Schier
NEW YORK Melting-grade nickel premiums have moved off record lows as some traders use the decline in intraday trading on the London Metal Exchange as an opportunity to secure higher premiums.
Melting-grade premiums were between 20 and 25 cents per pound Tuesday, up from 20 to 23 centstheir lowest level in nine yearstwo weeks ago.
The slightly higher premiums are the result of some traders strategically selling during intraday price drops on the LME nickel contract, a trader told AMM. When nickel base prices dip, traders are able to secure more substantial premiums and still remain competitive.....
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