Spot nickel premiums recede to 10-year low
Mar 28, 2013 | 01:11 PM
| Daniel Fitzgerald
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.
AMMs 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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