(Bloomberg) -- Goldman Sachs Group Inc., the
world's largest securities firm by market value, said nickel may
fall to as low as $25,000 a metric ton as inventories continue
to rise ``in the coming weeks.''
Stockpiles of nickel tracked by the London Metal Exchange
soared 76 percent in the past two months to 12,642 tons, the
highest since June 22, 2006, according to exchange data. Nickel
for delivery in three months has lost 35 percent since trading
at a record $51,800 a ton on May 9. It was at $32,450 a ton as
of 9:17 a.m. London time today.
Read more at Bloomberg Commodities News
world's largest securities firm by market value, said nickel may
fall to as low as $25,000 a metric ton as inventories continue
to rise ``in the coming weeks.''
Stockpiles of nickel tracked by the London Metal Exchange
soared 76 percent in the past two months to 12,642 tons, the
highest since June 22, 2006, according to exchange data. Nickel
for delivery in three months has lost 35 percent since trading
at a record $51,800 a ton on May 9. It was at $32,450 a ton as
of 9:17 a.m. London time today.
Read more at Bloomberg Commodities News
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