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  • Nickel tumbles 4 percent by end of LME trading

    09/04/2006 8:02:44 PM PDT · by DebtAndDelusion · 23 replies · 845+ views
    Reuters ^ | September 4, 2006 | Anna Stablum
    Nickel prices took a severe beating in late trade at the London Metal Exchange on Monday, falling over $1,000 from Friday's kerb close. Three-months futures ended Monday's kerb at $27,600 per tonne, down $1,100, or 3.8 percent. Once selling began, the metal slipped into free-fall, traders said. "It was around $28,500, then on the next trade -- which was half an hour later -- it had gone down $300, then another $300." Volumes were tiny and support practically non-existent."It was trading one lot, then two lots, then one. There was a void underneath it," the trader said. Sellers may have...