Nickel Extends Drop as Philippine Ore Exports Worry Drops

Nickel continued its slump on the back of news that the Philippines isn’t looking to ban ore exports quite yet.

According to Bloomberg:

Debates in the legislature on the proposed shipment restrictions probably won’t occur until late 2015, Congressman Francisco Matugas said today, adding that the passage of the bill “will take time.”

Daniel Briesemann, an analyst at Commerzbank AG, said:

The drop is clearly due to the Philippines, in that it could take years before an export ban may come into effect. There’s definitely no reason to be concerned about tight supply in the short run.

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