Nickel price surges...Codelco is now talking of the possibility...

Nickel price surges...Codelco is now talking of the possibility of copper reaching $10,000/t

NICKEL starred in the last commodity trading session of October, surging through the US$12,000 per tonne mark with a gain of more than 5.3%.

• Michael Quinn
• 01 Nov 2017
• 6:15

A price of $12,295/t, means nickel has risen nearly 40% in four months, with nickel sulphate and electric vehicles the buzz words.

Zinc also enjoyed further support, rising 1.75%.

Elsewhere prices were mixed with copper off 0.4% to $6839/t.

Still, copper heavyweight Codelco is now talking of the possibility of copper reaching $10,000/t in the current cycle.

On the mining equities front, the majors generally lost ground in London, with Glencore suffering the biggest fall (1.89%), and Anglo the only to rise with a gain of nearly 0.5%.

Over in Toronto, the gold patch fell about 1% as bullion drifted to around the $1270 per ounce mark, with a stronger US dollar a dampener on the price.

For the ASX on the first day of November, the futures index was showing a gain of 24 points.




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