i note the lme stock levels have risen quite alot ,but it should be noted that ALL the increase has been only in the european lme warehouses namely Rotterdam and
Helsingborg-Sweden,the asian warehouses have had small outward movements of nickel,i believe that the asian warehouses have very low levels of nickel stock,close to empty.That is what people in the industry are telling me.
My hunch is that some hedge fund/s had a large physical holding of nickel in europe has shorted nickel on the lme and is bleeding/delivering nickel stock into the lme european warehouses to hoodwink the market into thinking that demand has dried up and doing this to suit their short position.Especially into a quiet european summer holday period,wher markets are thin.
If demand for nickel has dried up then we would be seeing the nickel inventory at asian lme warehouses increasing as well , but all that has been happening there is drawdowns and stock going out, all my sources are telling me that demand is still strong especially in asia, europe is quiet over their summer holidays,and that european stainless steel mills will replenish nickel stocks from late august and into the 4th Qtr.
I believe the hedge funds are short to the gills on nickel and that the market could very well get sqeezed come sept/nov as demand increases heading into dec year end.
Also note that chinese imports of refined nickel for the half yr ended june was up 18% on the previous year this stat was just released over the weekend,does this say something about nickel demand from asia or what!!!
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Last
$1.98 |
Change
0.000(0.00%) |
Mkt cap ! $299.8M |
Open | High | Low | Value | Volume |
$1.98 | $1.98 | $1.97 | $450.3K | 228.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 471332 | $1.98 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.99 | 17582 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 471332 | 1.980 |
1 | 25000 | 1.965 |
1 | 4493 | 1.960 |
3 | 5235 | 1.950 |
1 | 2000 | 1.930 |
Price($) | Vol. | No. |
---|---|---|
1.990 | 17582 | 2 |
2.000 | 319766 | 6 |
2.010 | 112943 | 8 |
2.020 | 21037 | 4 |
2.030 | 23500 | 3 |
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