Nickel reaches record highs

On 25 January 2007 nickel broke its previous record during London Metal Exchange’s ring trading as available stocks in exchange warehouses plummeted once more and concerns about supply grew. It hit a high of USD 38,798pt, basis three months, at 12:18pm London time, before settling at an official price of USD 38,000/050pt. The cash-to-three months backwardation was at USD 3300/500 after the official session ended.
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