Interesting to see quite a significant fall in Ni price early today, falling over 0.1036/lb in early trade to around 4.65/lb, only to rise strongly about 4:00 New York ( 6pm here), to 4.85 again, as according to Commsec of the 40 Philippine mines (not all nickel of course) audited it seems only about ten have been passed as compliant. Also shows how volatile the Ni market is, but hopefully the rise will continue, though we can only wait and see. ( Also seems - to me at any rate - that Ni is particularly open to speculators playing around with the price irrespective of fundamentals .....of course.) Often see a very large one direction swing in one session, but today's two way swing is a wee bit unusual, I think, so it is a very active market.
Bit of turnover in BML today for a change. Quite a few sellers compared to buyers.
Have a nice day.
Re: Commodities
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| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
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| 47 | 77033939 | 0.1¢ |
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|---|---|---|
| 0.2¢ | 53898969 | 22 |
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