nickel getting hammered tonight, page-2

From Bloomberg....
Nickel for delivery in three months climbed $550, or 1.3 percent, to $42,750 a metric ton as of 10:29 a.m. in London. The metal traded at a record $48,500 on March 16. Inventories fell 30 tons, or 0.7 percent, to 4,902 tons, the first drop since March 20, figures from the LME's daily inventory report today showed.

Nickel supply will lag behind demand by 10,000 tons this year, on top of a deficit of 22,000 tons last year, Moore predicted. Prices have soared as China, the world's largest user of the metal, expanded its stainless-steel industry.