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

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From: koan	2/21/2007 12:42:28 AM
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READ THE LATEST HEADLINE NEWS-NICKEL HITS $40,000 a ton-lol. LME Nickel Rises to Record $40,000 a Ton as Inventories Drop By Jae Hur Feb. 21 (Bloomberg) -- Nickel prices rose to a record $40,000 a metric ton on speculation that supply may lag behind demand after stockpiles on the London Metal Exchange fell for the first day in 10 and canceled warrants rose for a third day. LME-monitored nickel inventories fell 36 tons to 4,398 tons yesterday, the LME said in a daily report. Of the total, canceled warrants, which are not available to the market, rose 2.9 percent to 2,322 tons. Stockpiles have dropped 34 percent this year and are equal to less than one day of global consumption. Demand for the metal is surging among stainless-steel makers. Nickel for delivery in three months on the LME rose $150, or 0.4 percent, to $40,000 a ton at 11:14 a.m. Singapore time. The metal closed up 2.7 percent at $39,850 a ton yesterday after reaching a record $39,999 a ton. To contact the reporter on this story: Jae Hur in Singapore at jhur1@bloomberg.net

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