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Reuters Africa reported nickel is in $25 backwardation as supplies tighten.
Reuters Africa reported nickel is in $25 backwardation as supplies tighten.
As quoted in the market news:
LME stocks fell by 810 tonnes to 83,940 tonnes, close to their lowest in nearly three years. Indicating nearby supply is getting increasingly tight, cash nickel traded at a premium of $25 a tonne to the three-month benchmark, versus a discount of $6 a tonne in mid-November.
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