re: nickel price dropping..marginal producer now Inco CEO says nickel prices have not peaked
TORONTO, Oct 11 (Reuters) - Inco Ltd.'s (N.TO: Quote, Profile, Research) chief executive said on Tuesday nickel prices could head higher given the sharp global demand.
"Nickel has not peaked," Inco chief executive Scott Hand said in a press conference to discuss Inco's takeover offer for rival Falconbridge Ltd. (FALlv.TO: Quote, Profile, Research).
Earlier, Inco said it would buy rival Falconbridge for more than C$12 billion ($10 billion), trumping an effort by Swiss-based Xstrata Plc (XTA.L: Quote, Profile, Research) to take over the Canadian nickel and copper producer.
($1=$1.18 Canadian)
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