Nickel market quiet despite price lull
Jul 17, 2013 | 03:01 PM
| Daniel Fitzgerald
NEW YORK Spot nickel trading remains light despite an ongoing lull in nickel prices and premiums, with an abundance of nickel and stainless scrap keeping significant consumer interest at bay.
Melting-grade nickel premiums are steady in a range of 15 to 25 cents per pound, while plating-grade premiums remain at 50 to 60 cents per pound.
The London Metal Exchange three-month nickel contract closed the official session July 17 at $13,950 per tonne ($6.33 per pound), up 2.5 percent from $13,605 per tonne ($6.17 per pound) July 5. The contract recently dipped toward the $6-per-pound mark, closing the July 9 official session at $13,245 per tonne ($6.01 per pound), although traders said it had failed to spur a boost in spot purchasing.....
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