While I'm sceptical that the LME stockpiles accurately describe the real levels Fastmarkets did post this report on Ni overnight.
"Nickel at $8,980 was down $160 despite a report from the International Nickel Study Group (INSG) highlighting a 5.6-percent decline in refined production in January and February from the same period of last year. Stocks rose 390 tonnes to 424,080 tonnes and cancelled warrants climbed 1,482 tonnes to 120,306 tonnes." - See more at: http://www.fastmarkets.com/base-met...ds-spark-interest-112290#sthash.mDDQ1o6F.dpuf
Hopefully the decline is real unlike the phony info we've given over the past six months.
MCR Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
