by Shaws tonight. Medium term Ni sp trading range of US$11000 to US$14000 forecast. Nickels ongoing supply vulnerability... China, India, asian and US economies still driving demand up as at this month... Indonesian - Inco tension could destroy stock levels ...Nickel used globally in alloys stainless (60%), nickel based alloys (11%),plating (10%),steels (10%) foundry (3%),copper alloys (2%)...other wide range of uses...April International Nickel study Group concluded high nickel price started in 03 to continue for 04...stocks held in LME now under 1 weeks GLOBAL CONSUMPTION!!!Including producers inventory, total world stocks thought to be 95kt or 5 weeks demand! World scrap markets highly depleted.... Gotta look good for MCR, IGO, JBM, TTR etc!
MCR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
