Hi Anton, I think you are on the money re: June being the month there will be a change in Ni price & stockpile direction.
Been following the ore stockpile reports at major Chinese ports (see below) & the week the ore stockpiles looked like dropping below 10 Million tonnes, the tracker added another port.
Possibly reading too much into this, but then again 10MT barrier would be a psychological one IMO, having dropped from 15MT back in November.
Looking forward to seeing the details of the CR and having been in POS for a while now, fully understand what it means to be patient with investment decisions!!
Minor increase in Nickel inventories - Note SMM was tracking 5 ports where an average reduction per week of 206kT was seen for the past 6 months. It looks like a major turn around as figures have gone from 10.26MT to 11.8MT, however I have had confirmation back from SMM that they have added another major port to the tracking numbers - so these numbers are for 6 major Chinese Ports, not 5 as per last weeks figures.
