(Bloomberg) -- Nickel fell for a fourth consecutive
session because stainless-steel mills, the biggest user, are
cutting production, reducing demand for the metal. Copper and
aluminium prices were little changed.
Posco, Asia's third-largest steelmaker, will reduce
stainless-steel output by as much as 100,000 metric tons in the
second half, the company said yesterday. Nickel usage already
lagged behind production by 8,300 tons as of May, Michael Widmer,
head of metals research at Calyon said, citing data from the
International Nickel Study Group.
Read more at Bloomberg Commodities News
session because stainless-steel mills, the biggest user, are
cutting production, reducing demand for the metal. Copper and
aluminium prices were little changed.
Posco, Asia's third-largest steelmaker, will reduce
stainless-steel output by as much as 100,000 metric tons in the
second half, the company said yesterday. Nickel usage already
lagged behind production by 8,300 tons as of May, Michael Widmer,
head of metals research at Calyon said, citing data from the
International Nickel Study Group.
Read more at Bloomberg Commodities News
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