LME Spot Nickel Closes at $14,850 per MT Tuesday

MetalMiner reported that the nickel spot price fell 1.3 percent on Tuesday, closing at $14,850 per metric ton (MT) on the London Metal Exchange (LME). Nickel for three-month delivery fell to $14,945 per MT on the LME, a 1.1 percent decline.

As quoted in the market news:

Nickel stockpiles continue to reach all time record highs now at 183,700 tons. With Norilsk just starting to ship again, more tonnage will arrive at LME warehouses.

Meanwhile, Standard & Poor’s raised its rating on AK Steel from a sell to a hold based on rising sales over 2012 and better control over raw material costs.

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