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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (22696)	10/13/2006 6:36:24 AM
From: onepath	Read Replies (1) \| Respond to of 78419

Nickel Rises to a 19-Year High as Mine Blocked by Protestors By Marianne Stigset Oct. 13 (Bloomberg) -- Nickel rose to its highest in at least 19 years after protesters blocked a mine owned by Eramet SA on New Caledonia and inventory tracked by the London Metal Exchange fell the most in three months. Eramet runs the world's biggest ferronickel plant and managed to ship metal to Europe this week amid a general strike on the Pacific island. Protesters are still blocking one of four mines, Pierre Alla, chief executive officer of Eramet's local unit, said by telephone. ``Nickel is suffering from some serious subtraction threats,'' said Mo Ahmadzadeh, president of Mitsui Bussan Commodities Ltd., in an interview in London today. ``The world is short of new nickel projects. It's a tense situation.'' Nickel for delivery in three months was $50 higher at $30,550 a metric ton on the LME as of 11:06 a.m. London time, after earlier adding as much as $200, or 0.7 percent. Prices of nickel, used in batteries and to rust-proof steel, have more than doubled this year, the first yearly gain in three. Inventory in warehouses tracked by the LME fell 702 metric tons, or 14 percent, to 4,284 tons, the exchange said today. That's the biggest decline since July 14. Stockpiles have plunged 88 percent this year and are equal to less than two days of global consumption. Among other metals for delivery in three months on the LME, copper added $20 to $7,500 a ton. Aluminum fell $3 to $2,592. Lead gained $10 $1,505, tin rose $400 to $9,850 and zinc climbed $24 to $3,785. To contact the reporter on this story: Marianne Stigset in London at mstigset@bloomberg.net Last Updated: October 13, 2006 06:14 EDT Email this article Printer friendly format RSS Advertisement: Lind-Waldock knows commodities. Fre