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Nickel Prices Decline at LME as Indonesia Resumes Nickel Ore Exports

Metal News - Published on Tue, 12 Nov 2019

Image Source: theodoregray.com
Nickel prices fell on Monday as stocks in China's exchange warehouses rose to 18 months high and top ore producer Indonesia resumed exports. Cash nickel on the London Metal Exchange declined 2.8% to USD 15,720 a tonne while the most-traded nickel contract on the Shanghai Futures Exchange fell 1.9% to CNY 124,180.

Data on Friday showed nickel inventories in warehouses tracked by ShFE rose to their highest since the week ended June 1, 2018 at 30,831 tonnes, easing worries that supply is tight. Last week, Indonesia said it had allowed some nickel ore exporters to resume shipments following a temporary halt to investigate reports of violations.

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Posted By : Rabi Wangkhem on Tue, 12 Nov 2019
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