Nickel Prices Lift Export Earnings

The BoB financial statistics show that first quarter growth was 'extremely sharp', rising from P592.5 million of the first quarter of 2006 to P1 745.1 million in 2007.
"This is due mainly to much higher nickel prices, which grew by about 180 percent over the same period," says the BoB statistical bulletin.

Nickel was around $648.60 or P3.924 per troy ounce while copper prices were around $5,340, about P32.307 per tonne for most of the period between January and April.
China and India have been pushing the nickel price rally as a result of the urban construction boom in those countries.