Nickel hits record
Nickel hit a new record high in London trade on Monday on worries about supplies, while aluminium rose to its best level since last May and copper held firm on expectations of stronger demand from Asia.
Three-month nickel on the London Metal Exchange hit a new record high of $41,275 during trade, compared with Friday's close at $40,900.
Strong demand from stainless steel mills, supply disruptions and project delays have all boosted nickel prices, which have climbed nearly 70 percent since January 2006.
Nickel inventories in LME warehouses stand at around 3,500 tons. But only around 1,880 - half a day's global consumption - are available to the market.
Analysts think the surge has been overdone, but expect low stocks to continue to support.
sorry not balmoral related but in ARH's interests with sherlock bay nickel
cheers notthemama
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