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Gold/Mining/Energy : Falconbridge Ltd.( T.FL )
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To: Condor who started this subject1/3/2001 9:08:20 AM
From: Condor   of 103
 
Jan 02/01
The Globe's Market Movers column reports that the price
of nickel on the London Metal Exchange fell eight U.S. cents a pound
Tuesday to $3.16 (U.S.), its lowest level in about 15 months as concerns
rise about the weakening U.S. economy. Nickel traded at a 10-year high of
$4.82 (U.S.) a pound last March. The drop in price occurred despite a
lengthy strike at Falconbridge's nickel mining operations in Sudbury, Ont.,
and production problems at the new laterite nickel mines in Australia. An
unnamed analyst says there is speculation that major nickel users are
reducing their inventories.
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