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Nickel tumbles as metals, bar tin, fall

Posted on 30 November 2015

Nickel has tumbled despite a group of Chinese producers saying they planned to cut output, on scepticism about whether the cuts would be implemented. Eight Chinese producers including state-owned Jinchuan Group Co Ltd have said they would cut output by 15,000 tonnes in December and by at least 20 per cent in 2016.
Nevertheless, three-month nickel slid 5.5 per cent to an intraday low of $US8,685 a tonne. It pared losses to close 4.5 per cent weaker at $US8,775. Nickel had slumped to $US8,145 on Tuesday, the lowest in more than a decade, and has been the worst performing LME base metal in 2015, sliding 42 per cent………………………………………..Full Article: Source


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