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LME OFFICIALS: Nickel prices hit 14-month high
April 22, 2014 - 14:55 GMT
base metal prices
Indonesian ore ban
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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