(Bloomberg) -- Nickel dropped in London, heading for
a fourth weekly decline, on speculation near-record prices will
curb demand for the metal used in stainless-steel production.
Copper gained after stockpiles shrank to a six-month low.
Nickel has lost 27 percent from a record $51,800 a metric
ton on May 9 after steelmakers including ThyssenKrupp AG said
they will reduce purchases to cut costs. Supply will outpace
demand next year, from a balance this year, Sanford C Bernstein &
Co. said today in a report.
Read more at Bloomberg Commodities News
a fourth weekly decline, on speculation near-record prices will
curb demand for the metal used in stainless-steel production.
Copper gained after stockpiles shrank to a six-month low.
Nickel has lost 27 percent from a record $51,800 a metric
ton on May 9 after steelmakers including ThyssenKrupp AG said
they will reduce purchases to cut costs. Supply will outpace
demand next year, from a balance this year, Sanford C Bernstein &
Co. said today in a report.
Read more at Bloomberg Commodities News
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