andere Rohstoffe sind auch nicht viel besser.
Nickel Falls to 10-Month Low as Stockpiles Rise; Copper Drops
By Chanyaporn Chanjaroen
Aug. 9 (Bloomberg) -- Nickel fell to a 10-month low in London as stockpiles of the metal used in stainless steel extended gains, prompting speculation there will be an oversupply. Copper, lead and other industrial metals also declined.
Nickel inventories monitored by the London Metal Exchange increased 2.3 percent to 18,324 metric tons, the LME said today in a daily report, the highest since May 2006. They have almost tripled in the past 12 months. Supply will beat demand by 52,000 tons in 2007, after a deficit last year, Goldman Sachs Group Inc. said in a report last week.
The stockpile gain reflected ``slower demand for nickel both in Europe and Asia,'' Sudakshina Unnikrishnan, an analyst at Barclays Capital in London, one of 11 companies trading on LME floor. ``There is further downside risk to price,'' she said today in a telephone interview.
Nickel for delivery in three months on the LME fell $575, or 2.1 percent, to $27,525 a ton as of 10:37 a.m. local time. Earlier, it declined to $27,500, the lowest intraday price since Sept. 26.
The metal has lost 44 percent since trading at a record on May 9, partly because stainless-steel makers have delayed purchases.
Copper fell $44 to $7,536 a ton after stockpiles increased 1 percent to 115,450 tons, the third consecutive daily gain.
Among other LME-traded metals, aluminum dropped $18 to $2,630 a ton, lead slid $40 to $3,020 and tin fell $200 to $16,500. Zinc declined $55 to $3,365.
To contact the reporter on this story: Chanyaporn Chanjaroen in London at cchanjroen@bloomberg.net
Last Updated: August 9, 2007 05:47 EDT
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