Nickel hits new high

Nickel has hit a new high on the London Metal Exchange (LME) on 9 May of this year. Nickel for delivery in three months has risen by some 53% this year to touch a new all time high of USD 51,800pt but by mid session it fell back under USD 51,000 against the close of USD 51,200 on Tuesday. LME nickel stocks fell by 174tns to 4458tns, with only 3270tns available to the market, which is less than a day of global consumption.
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