NICKEL prices fell sharply yesterday as metal stockpiled at a Siberian
mine in the Arctic Circle during the winter started to pour into the
world market.
On the London Metal Exchange prices touched a three-month low of $5760
a tonne, down $110 from Tuesday.
Nickel, whose main use is in stainless steel, has lost 16% of its
value since the end of May but is still well above the lows reached late
last year.
Traders said yesterday's drop, in a market already worried by the
increased shipments from Russia, was sparked by news that stocks had
risen in LME-registered warehouses. -- Reuter
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