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LME OFFICIALS: Nickel prices keep rising on Indonesia, financing

April 14, 2014 - 13:55 GMT Location: London

KEYWORDS: lme officials , copper , aluminiuim , nickel

Nickel prices rose further in official trading on the London Metal Exchange on Monday April 14, as the effects of the Indonesian ore export ban continue to be felt.

"The nickel price is just Indonesia in disguise," a category I trader said. Three-month nickel settled at $17,760/770 per tonne on Monday’s official session, from its opening price of $17,495 per tonne. The alloying metal traded no lower than its opening price, while reaching a high of $17,917 per tonne. Nearby nickel spreads remain in a sizeable contango, and the contract has been boosted by financing deals in China,...

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