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Nickel prices soft despite uncertainty over supplies

Philippines keeps changing stance on output cuts, but market is unfazed

TOKYO -- International prices of nickel have remained low even though the Philippines, a major producer of the material used to make stainless steel, has repeatedly indicated that it will slash output.

Nickel futures were trading around $10,300 a ton on the London Metal Exchange Thursday afternoon, down 8% from a recent high marked in mid-February.

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