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MARKET TALK: Technical Selling, Stock Weigh On LME Nickel

Tuesday, Mar 20, 2007
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A hike in LME nickel stocks and light technical selling keeps the market under pressure after a selloff Monday, says a London broker. Notes that comments by Chinese producer Jinchuan that prices are set to take a tumble are adding to the pressure. But stocks are still at critically low levels, with volatile conditions seen. LME nickel is last at $46,800/ton, -2% from Monday.

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