Morning all,Another nice drawdown last night. At this rate we...

Morning all,
Another nice drawdown last night. At this rate we will be well below 100,000 tonnes late this year - this should add some spice to the curry.
2018 data from the LME. We went from 363k to 210k in 2018 a drawdown of roughly 150k. 
Interesting times

Three month nickel closed Monday's trading session at $5.16/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and now total just under the 198,000 tonne level. Nickel fell yesterday after China released export and import numbers, which took the market by surprise. Today, markets are again trading higher, on news that President Trump is promising China wants a trade deal, and China is promising more tax cuts to stimulate their economy. Even if President Trump is just trying to keep the market rally going with his comments, and China's tax cuts turn out to be more of a feel good stoke to the rally, the news that China's imports and exports are slowing could signal China will be more willing to come to an agreement. Washington could be realizing last months PMI number is evidence the trade war is affecting US industry as well. Could they be more willing to find an agreement as well? As long as they are both talking, there is hope and there are plans for more face to face later this month. It's the half way point of the first month of 2019 already. And so far this year, nickel had traded mildly bullish. Average price of cash nickel so far this month - $5.01/lb Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb