RE:LME Ni stockpilesfrs1960 wrote:
After 12 tons up yesterday, 1'896 tons down today. New low at 238'782 tons, well bellow the 240k tons. Shanghai stockpiles at 17'678 tons. All together equal to 6 weeks worldwide consumption. Some speculators try to keep Ni price low, but it won't last. In price can go one direction, up. And so will do Sherritt in the coming weeks, just a matter of time.
I whole heartedly agree. Right now sentiment is governing the spot price more than fundenmentals. The reality is that nickel currently apears to be in a structural defecit and if this breath taking drawdown continuesit is only a matter of time before the SP of sherritt and spot price follow.