Sherritt International Corp T.S

I'm wrong about Ni spot

[thenorthvanman]

Seems to be climbing without drawdowns. Love to imagine what happens when it does actually see sustained drawdowns.

[rkhosla]

I agree with the poster who said the inventory level really is meaningless.  Recall when the Chinese orchestrated that big draw down.  I think the relevance of LME warehouses has diminished greatly.  On that occasion stock taken off the LME was simply stashed away in Shanghai presumably.  Tsangshan I believe it was. Initially inventory dropped and price rose but then as it was

[thenorthvanman]

Hiding nickel in shadow warehouses is one thing but the Ni the exchange holds is without question still there. In short there could be more nickel available then the exchange shows but not less. Regardless, cheaper options to source material like ore and scrap metal are dying up meaning class 1 may become a forced option for stainless steel producers.