(Bloomberg) -- Nickel rose to a record in London after inventories of the metal slumped as demand increased from stainless-steel makers. Copper, zinc and aluminum also gained.
Stockpiles of nickel fell 3.8 percent to 4,458 metric tons, the London Metal Exchange said today in a daily report. The inventories have plunged 82 percent in the past 12 months. Stainless-steel producers are still buying the metal as an ingredient and haven't been deterred by the price rally, said Michael Widmer, a metals analyst at Calyon in London.
Read more at Bloomberg Commodities News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment