NEW YORK Melting-grade
nickel premiums have strengthened this week, with spot deals
reported at higher levels.
The range widened to 20 to 28
cents per pound from 20 to 26 cents previously. A number of
spot deals for half-truckload quantities were reported at the
high end of the range and above, while one trader also reported
truckload quantities sold well below AMMs range
at 15 cents per pound.
Stainless foundries that had
seen an influx of orders were said to be behind some of the
recent spot purchases at higher numbers.
"That (buying) is against orders
for sure. They specifically buy for specific orders," one
On the long-term front, some
consumers are still holding out on contracts for next year,
"Some people are saying
theyre going to wait until January, believe it or not.
They have plenty of nickel right now," one supplier said.
One consumer who did report
concluding contract business for a 2013 supply of briquettes
recently was able to get a premium under 20 cents per pound,
while supplies of full-plate nickel to large consumers are
being negotiated at premiums as low as 7 or 8 cents per pound,
according to another trader.
The plating market was once
again quiet, keeping premiums steady in a 45- to