Nickel 6.99-7.00 this morningDow Jones reports three month nickel closed Wednesday's trading session at
$6.92/lb 
. Indicators at 7:00 am CST today show 3 month nickel trading around $.08/lb
higher, with other London traded base metals mixed and mostly lower. Stockpiles of nickel stored in LME approved warehouses took a big hit yesterday, and now total just over the 269,350 tonne level. Nickel is rising so fast, that its breaking thru technical points before they can be identified. Right now we show the next resistance point at $6.92/lb, where we closed yesterday. And at the moment, we are trading above that level. In fact, we are nearing the $7/lb level, a level nickel hasn't traded at since last April. Shanghai nickel (SHMET) is trading lower than it was this time last month, which may explain why China stainless steel prices only yesterday, stopped falling.