Metals-Weak Dollar, Pushes Copper, Nickel Up

Reuters reports that nickel prices rose as stockpiles reached their lowest level since March 2009.

The market news is quoted as saying,

Stocks of nickel in LME-approved warehouses at 101,418 were at their lowest since March 2009 and down more than 30,000 tonnes since the middle of January.

Much of that probably headed to China, which this year so far has imported nearly 100 tonnes of refined nickel and alloy, and helped bolster prices of the metal used to make stainless steel.

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