Spot nickel premiums recede to 10-year low

Mar 28, 2013 | 01:11 PM | Daniel Fitzgerald

Tags  nickel premiums, melting nickel, plating nickel, nickel demand, LME warehouse, Chicago warehouse, Detroit warehouse, LME nickel Chicago

NEW YORK — Melting-grade nickel spot premiums have fallen to their lowest level in more than a decade as an influx of nickel into London Metal Exchange-approved warehouses in Chicago has exacerbated concerns over lackluster demand and domestic oversupply.

AMM’s melting-grade nickel premiums have dropped to between 15 and 25 cents per pound, down from a narrower 18- to 25-cent-per-pound range that had previously held unchanged since mid-January. The current premium range represents the lowest levels recorded since February 2003, when U.S. spot premiums were as low as 14 cents per pound.....





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