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Market Chatter: Nickel Prices Decline Most Since October on Ample Supply

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"Nickel prices fell the most in three months amid signs that global supplies will be more than enough to meet demand this year. Copper also dropped," Bloomberg reported.

It reported: "This week, nickel inventories reached the highest in almost three years. Supplies will probably outpace consumption through 2014, analysts at Macquarie Group Ltd. said in a report last month. China's imports of the metal, used to make stainless steel, will probably fall for a second year in 2013, the bank said. Prices have climbed 7.4% this year, the most among six major industrial metals."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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