"Spot iron ore for import to China bounced $1.60 to US$57.80 a dry ton after weak Chinese factory data yesterday raised expectations that the central bank will introduce further measures to stimulate the economy. Shanghai copper surged 3.7% and Shanghai nickel 3.4%."
Ref; Bloomberg
That's nearly 15% in 6 days. Definitely a change in sentiment on commodities at Supply and Demand level.
Hope the Off-Take agreements have factored in the projected strength in Nickel over the next few years.
LME London on holiday mode last night. Will have a good idea tonight if these prices will be supported or strengthened.
Regardless looking good.
AVQ Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held