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LME OFFICIALS: Nickel prices hit 14-month high

April 22, 2014 - 14:55 GMT Location: London

KEYWORDS: LME , base metal prices , Indonesian ore ban , nickel

Nickel prices hit a 14-month high during official trading on the London Metal Exchange on Tuesday April 22, on increasing expectations that the nickel market will be in deficit by the end of the year.

Three-month nickel settled at $18,270/300 per tonne, up over $300 from its official price on Thursday at $17,950/18,000 per tonne. Nickel continued to trade higher on the back of the Indonesian ban on exporting unprocessed raw materials, as market participants increasingly predict that the nickel market will be in deficit by the end of the year. Analysts at Macquarie have predicted that nickel market will be in deficit by the second half of 2014, revising their initial...

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