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MARKET TALK: LME Nickel Dn On Stock Rise But Outlook Tight

Friday, Feb 09, 2007
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A 534 tons stock increase for LME nickel to 3,654 tons takes heat off prices overnight, with any more stock rises bound to take scarcity premium off nickel prices, says Commonwealth Bank of Australia. LME nickel inventories still at less than day's worth of global consumption, with outlook pointing to tight supply situation continuing. LME 3-month nickel trades at $35,500/ton, up $50 on Thursday PM kerb.

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