| From Theglobeandmail.com: Copper and other base metals rallied Tuesday as the U.S. dollar weakened and as a jump in oil prices fuelled buying of commodities as a hedge against inflation. Nickel jumped 7.3 per cent to close at $19,395 (U.S.) a tonne, as the metal, mainly used in stainless steel production, was also boosted by news that Xstrata PLC was suspending operations at its Falcondo ferronickel mining operation in the Dominican Republic.
“The market is going to be fairly close to balance rather than being oversupplied, and there is the prospect that the stainless steel market will recover in the next few months on a year-on-year basis,” said Dan Smith, analyst at Standard Chartered..... Full Article: Source
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