Nickel shortage:
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Mr. John Meyer of Numis said “Stainless steel markets are primarily the cause of the shortage in nickel availability as stainless steel production remains strong, particularly in China and supply struggles to match consumption. Three month tin jumped to a fresh record high of $14,150 per tonne before retreating to $13,800 per tonne due to ongoing supply concerns in Indonesia one of the world largest tin producers and LME stocks down nearly 30% since the start of 2007. Indonesia closed dozens of small scale smelters in last October that together produced about half the country’s annual tin output on allegations them purchasing tin or illegally, damaging the environment, and evading taxes. LME zinc stocks have climbed 6% from month ago levels and 13% from the start of 2007.
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Source : Business Line |
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