Nickel market quiet despite price lull

Jul 17, 2013 | 03:01 PM | Daniel Fitzgerald

Tags  nickel premiums, melting-grade nickel, plating-grade nickel, stainless scrap prices, nickel demand, London Metal Exchange, LME, nickel prices 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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