Post by
astrorbit on Oct 13, 2019 3:18pm
98562.That was fast.
The breach of 100k.
Where is this demand surge coming from.Take into account that it has dropped from 157 to 98k in less than a month. The uptick looks like a blip now.
This has to be stockpiling/hoarding in preparation for nickel price improvement.
The next few weeks will see if this downtick is normal or not.
nickel lme was @ 5000 at one point then surge to 400,000.
Mr.Foulkes was a bit early in 2015 at the smi conference.Mentioning dropping lme to 150,000
Q2 2020 when grasset results come out.
Where is bluenose?
Comment by
sinusoid on Oct 15, 2019 2:04am
Hoarding ahead of the Indonesian export ban. It could take ages for the producers to go through all that hoarded material, so low LME stocks aren't necessarily a leading indicator of higher prices.
Comment by
Chaulkdust on Oct 15, 2019 4:55pm
Here is an article discussing what the author thinks is going on in the Nickel market. https://uk.reuters.com/article/uk-metals-nickel-ahome/column-lme-stocks-grab-feeds-nickels-raging-bull-fires-idUKKBN1WO1N6