London Nickel Slips from Six-month High

Bloomberg reported that nickel in London fell from a six-week high due to speculation that for now the metal is not in short supply.

As quoted in the market news:

‘For now, there is still a small surplus,’ Nic Brown, head of commodity research at Natixis in London, said by e-mail. ‘There is no indication that either candidate would reverse the current export ban on unprocessed raw materials,’ he said of the ballot.

Nickel for delivery in three months slid 2 percent to $19,472 a ton at 1:23 p.m. on the London Metal Exchange after reaching $19,990 yesterday, the highest since May 20. The number of futures contracts outstanding is near a 12-week low reached last month after climbing to a record on May 13, the same day nickel touched this year’s high.

Click here to read the full Bloomberg report.

Get the Latest Nickel Investing Stock Information

Get the latest information about companies associated with Nickel Investing delivered directly to your inbox.

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.


Leave a Reply