MARKET TALK: LME Nickel Dn 2% As Sudbury Strike Averted

LME nickel is down 2% on news Xstrata has averted a strike at its Sudbury operations with a tentative labor deal, says a broker. "The reaction's been more muted than I thought but this is probably because of the positive gains in the precious metals and oil," the broker notes. A further sell-off is possible later, he adds. LME nickel trades last at $35,950/ton, down from $36,500/ton earlier.