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Nickel and tin boosted by low inventories and China outlook

From nasdaq.com

Industrial metals prices rose on Thursday, with nickel pushing towards seven-year highs and tin reaching a record peak as low inventories pointed to tight supply while Chinese efforts to support its economy bolstered the demand outlook. Benchmark nickel CMNI3 on the London Metal Exchange (LME) was up 0.9% at $21,035 a tonne by 1153 GMT. The metal used in stainless steel is up around 27% this year. LME tin CMSN3 was flat at $39,955 after touching $40,680, its highest on record. Used in solder for electronics, tin has almost doubled in price since the start of the year. "Inventory levels have come down ... (full story)

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  • Category: Fundamental Analysis