NEW YORK Nickel market
participants are already reporting higher inter-trade offers
for plating-grade metal as premiums are expected to rise next
year due to the announced closure of Vale SAs refinery in
"Its going to be a little
bit tight next year in the plating market. (Customers)
understand that prices are going to be changing," according to
one trader, who recently received an offer from a supplier well
above current market levels for plating material.
For melting-grade nickel,
sources said contract talks are stretching out further than
"Theres a lot that we
havent finalized yet. Last year at this time people had
already committed. Theyre holding off because they
dont know the tons to commit to," one supplier said.
Most sources agreed that
contract premiums for melting material in 2013 would, at best,
be flat or lower than 2012 levels, in line with previous
amm.com, Oct. 24).
The spot market for
melting-grade material was unusually busy over the course of
the week, with transactions reported across AMMs
range of 20 to 26 cents per pound on Nov. 21.
Sales of significant tonnages
were between 20 and 25 cent per pound, while one deal for less
than a truckload was reported above 30 cents per pound.
Transactions for small loads
were in a wide range, with palette-type quantities reportedly
sold as low as 30 cents and as high as 55 cents per pound.
"Its a good mix of people
just requiring nickel," the first trader said.
One reseller said he had bought
some nickel recently to replenish his stocks.
Spot plating premiums remained
unchanged at 45 to 55 cents per pound with little confirmed