LME nickel moves to a fresh high as visible inventories in LME warehouses drop further and a deal between Xstrata and unions representing workers at Sudbury looks further away, a broker notes. LME stocks are 4,878 metric tons with just 2,658 tons available due to canceled warrants, he says. Earlier, news that talks to avert a strike at Sudbury next week are beginning again from scratch will provide support going forward, he adds. Prices hit $38,950/ton, up 2% on the day and a 30% rise since the start of the year. LME nickel trades at $38,000/ton.
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