LONDON--Nickel prices are continuing to make fresh contracts highs in London Metal Exchange trade Friday and traders said worries over supplies mean there are no reasons to sell.
Trade and speculative interest has pushed nickel to a new high of $36,250 a metric ton, up 3% on the day and an 11% gain on the week.
The current focus of supply side concern is the looming strike at Xstrata PLC's (XTA.LN) Sudbury works. Over 1,000 unionized workers voted 98% in favor of a work stoppage if a new labor agreement isn't reached by the end of the month.
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