re: Ann: Company Insight - Discussing June Qu...
Stockpiles of nickel stored in the LME returned to declining yesterday, after recording a single inbound shipment for the month so far yesterday.
Total LME Ni stockpiles are now standing at just over 101,550 tonnes.
If the downtrend continues as seems likely then we should see Ni back over US$12/lb when stocks drop below 100,000tonnes. The action will really start when Ni stocks drop below 80,000 tons and that could happen before the end of the year given the current withdrawl rates. I'm betting we'll see US$14/lb by Xmas
MRE Price at posting:
69.5¢ Sentiment: Buy Disclosure: Held
