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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (926)	11/12/2001 3:13:36 PM
From: Stephen O	Read Replies (1) \| Respond to of 1643

London, Nov. 12 (Bloomberg) -- Nickel surged 12 percent, its biggest gain in more than 13 years, after production cutbacks by copper producers fueled speculation that miners of other metals may reduce output to boost prices. ``The funds are less bearish'' following cutbacks announced last week by Codelco, the world's biggest copper producer, and BHP Billiton Group, said Robin Bhar, an analyst at Standard Bank in London. Nickel for delivery in three months rose $595, or 12.2 percent, to $5,485 a metric ton on the London Metal Exchange. That was the biggest one-day gain since March 1988, and its highest level for 10 weeks. The metal has gained 21 percent in the past three sessions, paring its loss for the year to 19 percent. Copper rose $18, or 1.3 percent, to $1,426 a ton. As I post this spot copper is up $69.75 a tonne.