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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: LoneClone who wrote (18786)	8/20/2006 2:45:07 PM
From: LoneClone	Read Replies (1) of 78417

Nickel shortage causes panic Friday, 18/08/2006 The London Metal Exchange was forced to intervene in the nickel market last night for the first time since the 1980s, to curb panic buying among metal traders. Analysts predict there is only enough nickel left on the exchange to cover one day of world consumption. Supplies have shrunk because of a strike at the world's largest nickel mine at Voisey's Bay in Canada. In Australia, shares in nickel mining companies have skyrocketed, as speculators predict the situation will not ease in the short term. Commonwealth Bank commodity strategist Tobin Gorey predicts the market tightness will continue to force up prices. "In terms of supply being tight yes it will [force prices up]. Whether it is actually so tight that people can't complete transactions is another matter, that's really what defines the current circumstance," he said. "Normally you would just have to pay up to get hold of the metal, which is one thing. But it's another thing entirely just to not be able to get hold of it at all." abc.net.au

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