On my screen nickel for immediate delivery closed at $US12,278 up $US532. There are over 50 price series on nickel in the LME and owing to low volumes in some series there can be erratic reporting of prices.
Usually the series LNIDMUL is a good one to follow price movements.
Interesting that a number of base metal prices were under pressure but nickel moved upwards. This would confirm the tight supply side in this metal.
A good company to research in this sector could be MPM [MPI Mines] with a rising production profile, largely unhedged in 2004 , excellent exploration potential at Honeymoon Wells and a top management.
MCR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
