Inco naik krn ini kelihatannya. Tapi disruption ini akan short live menurut saya, anyway ride the bull aja.. Inco bagus koq. tan ** *Nickel Climbs to Three-Week High in Asia as BHP Shuts Smelter *
By Li Xiaowei June 13 (Bloomberg) -- Nickel advanced for a second day to a three-week high and is heading for the biggest weekly gain since September, after BHP Billiton Ltd. said it will shut down facilities that produce about 2 percent of world supply. The earlier-than-planned rebuild of the Kalgoorlie smelter furnace will reduce nickel sales by 28,000 metric tons, and the Kwinana refinery will be closed during the overhaul, the Melbourne-based company said yesterday. BHP is the world's third-largest producer of the metal used in stainless steel. ``The jump is unsustainable to me because demand is very poor,'' Kevin Ji<http://search.bloomberg.com/search?q=Kevin+Ji&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1>, an analyst at nickel trader Ningbo Sunhu Chem. Products Co., said by phone from Ningbo today. ``There's hardly any change in fundamentals as everyone had been expecting BHP's closure, except that it came a bit earlier than planned.'' Nickel for delivery in three months on the London Metal Exchange rose as much as $320, or 1.3 percent, to $24,820 a ton, the highest intraday price since May 22. It traded at $24,650 at 11:02 a.m. Shanghai time, after a 5.6 percent gain yesterday. Nickel has climbed 15 percent since falling close to a two-year low on May 30, while stockpiles <http://www.bloomberg.com/apps/quote?ticker=LSNI%3AIND>of the metal have fallen 10 percent since April 22 when they reached the highest since 1999, according to LME data. ``We do not anticipate a sustained rally in nickel, although prices could firm further in the short term'' following the BHP shutdown and lowered output at Minara Resources Ltd.<http://www.bloomberg.com/apps/quote?ticker=MRE%3AAU>, said Barclays Capital in an e-mailed report yesterday. Minara, Australia's second-largest nickel producer, cut its output forecast June 10 by as much as 23 percent following a power-supply accident. BHP was also affected by the outage and natural gas used at Kalgoorlie will be reallocated to the Worsley alumina refinery, the company said yesterday. Nickel Demand ``LME nickel stocks remain hefty and demand conditions stemming from the stainless steel market are still lackluster,'' said Barclays analysts, including London-based Gayle Berry<http://search.bloomberg.com/search?q=Gayle+Berry&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1>, in the report. Demand growth for stainless steel from China, the world's largest nickel consumer, is slowing from a year ago as projects for the summer's Olympic Games are completed and the leasing and sale of offices in major cities slows, Jinchuan Group Ltd. said June 3. Global demand for stainless steel will rise 12 percent this year to 1.56 million tons, after zero growth in 2007, while supply will increase 9 percent to 1.55 million tons, Merrill Lynch & Co said. May 30. Among other LME traded metals, copper was 0.2 percent up at $7,852 a ton, tin rose 1 percent to $21,300 after stockpiles fell to the lowest in almost three years yesterday, zinc gained 1.1 percent to $1,890 and aluminum was little changed at $2,947. Lead was untraded by 11:48 a.m. Shanghai time after settling yesterday at $1,830 a ton. To contact the reporter for this story: Li Xiaowei<http://search.bloomberg.com/search?q=Li+Xiaowei&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1>in Shanghai at [EMAIL PROTECTED] *Last Updated: June 13, 2008 00:02 EDT*
