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Article: Inco paints gloomy supply picture to prop future prices.
- Article from:
- Purchasing
- Article date:
- October 9, 2003
- Author:
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Peter Jones, president and chief operating of Inco Ltd., the western world's biggest nickel producer, has started a saber-rattling campaign to support futures prices that have stayed high even after a lengthy strike ended at the firm's massive Sudbury,
Ontario, mine-smelter complex. Canada's natural resources minister, Herb Dhaliwal, and several market analysts had expected world nickel prices, traded on the London Metal Exchange (LME), to stabilize and slide soon after the 13-week strike ended August 29. However, the mid-September price average of $4.45/lb compared to the $3.78 average for May (before the strike began).
Jones told a mining conference in ...