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CLOSE TO CLOSE: Nickel prices drop more than $250 on profit-taking

February 13, 2014 - 21:05 GMT Location: London

KEYWORDS: LME , nickel , copper , tin

Nickel prices fell by more than $250 during kerb trading on the London Metal Exchange on Thursday February 13, on profit-taking following strong price moves yesterday.

Three-month nickel closed at $14,125 per tonne, down from $14,395 per tonne at yesterday’s close. "Nickel had a good $200 move yesterday, which is enough of a move for people to think, 'Let’s not be greedy,’ and so they will just take some money on that," an analyst said. "In the current market environment, where no one expects any solid upside moves or downside...

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