Nickel Posts Longest Rally in 42 Months on Supply Concern Bloomberg

http://www.bloomberg.com/news/2014-04-11/nickel-poised-for-second-weekly-gain-on-supply-concerns.html

The ban “alone is likely to shift the nickel market from structural oversupply to a balanced outcome this year, with sizable deficits probably over coming years,” Societe Generale SA said in a report. “Stronger global growth outlook is likely to drive nickel usage in stainless and non-stainless sectors.”
The price rose to a 13-month high, while stockpiles monitored by the London Metal Exchange posted the biggest weekly drop since June 2012. Tensions between Ukraine and Russia, the home to OAO GMK Norilsk Nickel, the world’s biggest producer of the refined metal, also may threaten shipments, Tom Price, a UBS AG commodity analyst in Sydney, said in a Bloomberg Television interview.