The LME 3-month nickel price has fallen by more than 14% from its four-month high of over $18,500/t in early February. In early May it fell below $14,900/t for the first time since July 2009. The falling price can be attributed to both fundamental and financial factors.Investors have started to retreat from commodities - base metals as a whole have declined in price over the past two months- as concerns about economic growth in China, the US and Europe have all heightened, whilst rising open interest is indicative of short positions being taken.
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