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Nickel April’s Best-performing Commodity Thanks to Indonesia, Russia

Posted on 09 May 2014

Nickel prices are on a tear. Since January 12, when the Indonesian government surprised nickel market participants by going through with its plan to ban unprocessed ore exports, the metal has risen precipitously.
In terms of just how precipitously, the numbers speak for themselves. Though the metal’s gains were modest at first, by mid-March, London Metal Exchange (LME) nickel for three-month delivery had reached an 11-month high of $16,230 per metric ton (MT). That positive performance continued in April, when nickel was the best-performing commodity; most recently, LME nickel for three-month delivery hit $18,250 per MT, as per the Financial Times………………………………………..Full Article: Source


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VRS - who has written 38163 posts on Opalesque Commodities Briefing.


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