Balmoral Resources Ltd BALMF

Nickel

[Chaulkdust]

The weird world of Nickel inventories! For the September 3^rd-11^th period magically we saw a steady inflow of nickel inventory into the LME for a total increase of 2,596 tons of material. Then, the switch was flipped and for the period Sept 12^th-20^th we saw a massive 13,332 ton decrease in inventory. The price remains a mystery, bouncing between $17,121 and $18,153 during the period Sept 3^rd-20^th, with the final price ending at $17,430 on Sept 20^th or about $8 per pound. Demand/Supply/Price remains to be mostly uncorrelated as they have been for quite a while.