(Bloomberg) -- Nickel traded close to a three
month-low low in London on speculation swelling stockpiles are a
signal demand from stainless-steel producers is slowing. Copper
and zinc also dropped.
Inventories of nickel tracked by the London Metal Exchange
have risen 36 percent this year to an 11-month high. Stainless
steelmakers consume two-thirds of the world's nickel. Outokumpu
Oyj, the world's third-largest producer, is cutting output
because of slowing demand for the alloy.
Read more at Bloomberg Commodities News
month-low low in London on speculation swelling stockpiles are a
signal demand from stainless-steel producers is slowing. Copper
and zinc also dropped.
Inventories of nickel tracked by the London Metal Exchange
have risen 36 percent this year to an 11-month high. Stainless
steelmakers consume two-thirds of the world's nickel. Outokumpu
Oyj, the world's third-largest producer, is cutting output
because of slowing demand for the alloy.
Read more at Bloomberg Commodities News
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