nickel price

Has ARH got a nickel deposit that is relevant or have they not?... this must be the next project on the radar if they have ....... They have a nice double act in iron ore and Nickel if it's all proven!!!

Nickel reaches record high

Nickel prices jumped sixfold in five years
Nickel prices rose to record high for the fourth consecutive day in London as stockpiles of the metal plunged, increasing speculation that supply won`t meet demand. Copper and aluminium also increased.

Inventories monitored by the London Metal Exchange (LME) fell 5.8% to 3,594 t, says the exchange, adding that it is less than two days of global consumption.

Stockpiles slumped 45% in 2007 on the surging Chinese demand for stainless steel.

Kevin Norrish, an analyst with Barclays Capital in London, tells Bloomberg: "Supply has just not caught up with demand, particularly for stainless steel in Asia, and there is little prospect of that changing in the near future."

Nickel for delivery in three months reached an intraday high of US$47,890/t.

In the past five years, the price of nickel has jumped sixfold as supply failed to keep up with demand. In 2006, China overtook Japan as the world`s largest stainless steel producer - with production of the metal soaring 68% according to a report by Xinhua News Agency last month.

The main driver behind a higher consumption of nickel is the increase in global stainless steel production.