04.06.2015 - Nickel price drops after inventories rise; firm dollar weighs
Nickel slid on Wednesday after inventories rose to a fresh record, while a stronger dollar weighed on some base metal prices ahead of an options expiry. Nickel was the biggest price mover on the London Metal Exchange (LME) after exchange stocks MNISTX-TOTAL jumped to an all-time peak of 470,118 tonnes, rising 13 percent this year. Three-month LME nickel, which failed to trade in official open outcry activity, was bid down 1.1 percent at $12,910 a tonne after rising a half percent in the previous session. "Some of the warehouse arrivals in nickel appear to be linked to financing deals," said Robin Bhar, head of metals research at Societe Generale in London...............................................Full Article: Source
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