LONDON, Aug 16: The price of nickel hit a new record high for the third day in succession here on Wednesday, heading for $30,000 per ton amid falling stock prices and strong demand from stainless steel makers.

Nickel, a metal used to help prevent corrosion, hit $28,600 per ton for delivery in three months in Wednesday electronic trading on the world’s leading metals terminal market, the London Metal Exchange (LME).—AFP