Nickel soars to record on speculative buying

Print this page Posted on : 05-10-2007 by recycleinme.com

London Metal Exchange nickel jumped to new record highs early Wednesday, while the rest of the complex consolidated, with traders awaiting fresh news for clearer price direction, said market participants. Three month nickel pushed to a fresh record high of $51,800 a tonne driven by speculative buying triggered by supply concerns, said brokers. At 100 GMT, nickel traded at $51,750/tonne.

Source : Business Line