G20 leaders’ support promise spurs nickel

Nickel Investing News reports nickel price spurs with G20 leaders’ support for the global economy.

 LME base metals posted gains across the board, with nickel leading the way, up 12.7 per cent. The impetus was a direct reflection of sentiment, but lacked a change in underlying supply-demand fundamentals. The sentiment adjustment also induced a short-covering rally, partially reversing downside gained when traders sold their positions during the closing months of 2008.