Chinese Imports Help Copper Gain:
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In London nickel snapped three days of declines on speculation that stock piles of the metal haven’t gained enough o offset the impact of possible disruption to supplies. Copper rose on higher Chinese imports. The London Metal Exchange tracked the inventories of nickel gained 12 tonnes to 4,314 tonnes, the LME said in a daily report. That less than two days of global usage. In January the demand exceed supplies by 7,000 tonnes, the ware England based World Bureau of metal Statistics said. Nickel for delivery in three months rose $545 or 1.2 percent to $44, 4000 a tonne as of 11.49 am London time. The metal mostly used to make stainless steel, lost 8.1 percent in three days to Wednesday. It traded at a record $48,500 on March 16.
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Source : Business Line |
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