02.04.2015 - Nickel bounces off near-six-year low
Nickel has bounced off its lowest level in nearly six years as some investors, betting on price falls, lock in profits, but concerns about Chinese economic growth weigh on other base metals. Nickel has spiralled lower on worries about lacklustre consumption from the stainless steel sector, the dominant source of global demand, as well as a record high inventories on the London Metal Exchange (LME). Heavy selling by hedge funds has been behind the recent slide in nickel which brought the decline so far this year to about 16 per cent. But some investors were buying on Wednesday to lock in some profits..............................................Full Article: Source
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