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