Nickel premiums rise on tight supply

Jan 30, 2014 | 01:19 PM |

Tags  nickel, spot premiums, melting-grade premiums, plating-grade premiums, London Metal Exchange, nickel stocks, Rey Mashayekhi

NEW YORK — Melting-grade nickel spot premiums rose Jan. 29, the first movement since last March, with tightness in refined nickel availability catching up to the North American spot market, according to industry participants.

AMM’s melting-grade premium moved to a range of 20 to 25 cents per pound Jan. 29, up on the low end from 15 to 25 cents previously, while plating-grade premiums held steady at 60 to 70 cents per pound.

Traders and producers cited tightness in material available for purchase on the spot market, with dismal weather conditions over the past month mentioned as one cause for logistical issues tying up material.....

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