sorry for the long term holders, page-52

Exactly tcisboss. Couldn't have said it better...

"Chinese SRB has just bought 60 thou tonnes on market. Makes you think nickel is at or near it's lows.
The biggest problem that has been facing nickel is the npi producers which now are producing at a loss or are shutting down for maitenece."

The SRB has not bought nickel since 2009. They know a squeeze in supply is coming and with NPI supply limitations coming they need to quietly stock up whilst these prices are being manipulated low, China relies on about 53% of it's nickel from NPI, that industry is going to be squeezed out with the forthcoming ban from Indonesian exports next year.
They are predicting $17,000/ton later in year and $19,000+ next year. Lets see what transpires.
Maybe China can actually start to create better products using Nickel instead of the cheaper inferior NPI garbage.