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

To: 4C who wrote (30378)	1/20/2007 12:50:38 PM
From: hank2010	Read Replies (1) \| Respond to of 78417

More on nickel strikes and damaged ships. DJ LME Nickel Supply Woes Leave No Reason To Sell -Traders-3 Traders had expected some of the heat to be taken out of the nickel price after a four-month strike at Eramet SA's (13175.FR) New Caledonia operations ended overnight. But the company lost between 4,000-5,000 tons of output with the Doniambo smelter having been down 50 tons a day since Sept. 25. "Even if the strike's over, the loss of metal is significant to the market because it's so tight," one LME trader in London said. At the same time, it appears the cargo of at least 1,000 tons of nickel on board damaged container ship the MSC Napoli will be rescued. The ship's agent, Geneva-based Mediterranean Shipping Co., or MSC, said it is being towed into the port of Le Havre with its cargo intact. Deliveries of the ship's metal cargo, some of which was destined for customers in South Africa, will now be late. Customers won't be able to go to the market to source material, because there's just 4,410 tons available to the market out of a total 5,178 tons in LME warehouses. As of 1630 GMT, LME nickel was trading at $36,000/ton.