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Nickel rises most in two weeks on Colombia supply concern

Nickel rose the most in two weeks as workers at a BHP Billiton Plc mine in Colombia threatened to go on strike, spurring supply concerns.

The union said that employees opposing the extension of work shift to 12 hours from eight hours may walk out if the Colombia ministry of labor does not intervene. A nickel supply deficit may widen to as much as 107,000 tonnes next year after Indonesia banned shipments of unprocessed ores in January.

Mr Michael Turek, a senior director at Societe Generale’s Newedge Group in New York said that “The metal climbed due to labor unrest at some mine facilities.”

Source – Bloomberg

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