Some will remember when Nickel was at 50Ks per tonne that the LME changed its rules and forced all holders of reserves to declare what their reserves were to prevent panic buying of Nickel and steady the price.
At that time ALL reserves were also quoted on the LME as saleable stock so that everyone could see what was available even tho in fact much of it was held in private reserve.
To my knowledge this ruling has not been revoked and if this is true then the metal shown as reserves on the LME is not a true figure and since all buyers will know this it may be finally having an upward pressure effect on the Nickel price.
Very interested in other opinions.
MRE Price at posting:
78.5¢ Sentiment: ST Sell Disclosure: Held
