Nickel Oversupply Pushes Prices Lower

Reuters reported a supply glut has pushed U.S. nickel premiums have below 20 cents per lb for the first time in more than two years.

As quoted in the market news:

Most participants pegged premiums for melting-grade nickel in a range of 15 to 25 cents per lb, down from a first-quarter range of 20 to 25 cents, while some small-lot spot deals were being quoted as high as 35 cents.

Click here to read the full Reuters report.