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Gold/Mining/Energy : Falconbridge Ltd.( T.FL ) -- Ignore unavailable to you. Want to Upgrade?

To: Jason Marcotte who wrote (57)	8/2/2000 9:03:59 AM
From: Condor	Read Replies (1) \| Respond to of 103

Globe says FL strike not likely to boost nickel prices Falconbridge Ltd FL Shares issued 177,041,400 Aug 1 close $16.85 Wed 2 Aug 2000 In the News Also Inco Ltd (N) The Globe and Mail reports in its Wednesday, Aug. 2, edition that nickel prices are perplexing. The Globe's Vox column reports that not even a strike by Falconbridge's miners in Sudbury, Ont., could boost prices for the metal. In fact, nickel fell five U.S. cents yesterday to $3.45 a pound on the London Metal Exchange. Sadly for nickel producers, just over two months ago nickel was selling at $4.80 a pound or close to a 10-year high. Inventories remain at more than eight year lows, demand is strong and Inco, the world's largest nickel producer, reports that markets have seldom looked better. The betting now is that a temporary slowdown in the third quarter will soon end, and business will pick up again in the fourth quarter. But it could be that the good times are over, and that the incredibly strong demand that drove prices up was just a result of stainless steel producers restocking, and now that is over. If that is true, inventories will rise and the hope will be that prices do not fall any further, says The Globe.