Nickel Prices Rising on Investor Demand

Bloomberg reported Norilsk Nickel (LSE:MNOD)said it’s seeing an increased demand in nickel which is causing prices to rise.

As quoted in the market news:

Customers are buying on short-term contracts rather than long-term, reflecting uncertainty in their own sales in the future, Berlin said. The nickel market is balanced this year, and price movements will largely depend upon fluctuations in investors’ positions, rather than changes in industrial demand, according to Berlin.

Click here to read the full Bloomberg report.