MARKET TALK: LME Nickel At Highs On Talk Of Fund Short

LME three-month nickel hits a fresh high as talk of a large hedge fund short being squeezed adds impetus to an already supply-stricken market, notes a broker. A looming strike at Xstrata's Sudbury operations and problems with a shipment of physical metal being transported to South African consumers underpins sentiment, he says. LME nickel trades at $37,500/ton, a new contract high and up 4% from Monday's low.