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Nickel Stockpile Orders Gain on Signs of Stronger Chinese Demand
Sep. 12, 2011 02:32PM PST
Base Metals Investing
Bloomberg reported orders to remove nickel from stockpiles climbed to the highest level in almost two weeks because of stronger Chinese demand.
Bloomberg reported orders to remove nickel from stockpiles climbed to the highest level in almost two weeks because of stronger Chinese demand.
The market news is quoted as saying,
Canceled warrants, as the orders are known, rose 384 metric tons to 9,858 tons, the highest level since Aug. 30, exchange data showed today. Bookings jumped 28 percent, the most in a month, on Sept. 9. Canceled warrants in Rotterdam, which holds 76 percent of LME nickel stockpiles, increased to 6,408 tons, the highest level since April 12.