From this chart, you can see Nickel peaked in march 2011 to $US28,950/t with Nickel stocks at 129,858tons.
Yesterday , 10 Jan 2022, LME stock dipped below 100,000 T at 99,954 T. So for me, If Nickel stocks keep
decreasing at current rate, PoN would certainly rise proportionately. Who knows, we could reach that peak within a year
or 2.
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