Nickel premiums stagnant amid oversupply

Oct 10, 2013 | 04:51 PM | Rey Mashayekhi

Tags  nickel prices, nickel premiums, London Metal Exchange, LME, Natixis, Nickel Study Group, China, nickel pig iron NPI

NEW YORK — Nickel spot market trading activity has continued to stagnate, traders said, as global oversupply and uncertainty surrounding the future of China’s nickel pig iron (NPI) industry has hindered worldwide market outlook.

AMM’s melting-grade premium remains at a range of 15 to 25 cents per pound, while the plating-grade premium held steady at 50 to 60 cents per pound.

The London Metal Exchange’s three-month nickel contract closed at $13,805 per tonne ($6.26 per pound) Oct. 9, up 0.2 percent from $13,775 per tonne ($6.25 per pound) Sept. 25. ....

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