lme traders suggest the worst is over for nickel

Nickel is predicted to hold current prices & has perhaps reached a bottom.

These are the latest comments from LME traders,

http://futures.fxstreet.com/Futures/news/afx/singleNew.asp?menu=latestnews&pv_noticia=i4488253614866956352

"Zinc and nickel both ended the session in negative territory, but traders agreed that neither metal is expected to come under too much additional pressure over the coming days given the recent evidence of consumer demand into weakness in both markets.

"I'd say we're near the lows for both (metals) as we saw some good dip-buying from strong hands today, especially in nickel," said a New York-based LME trader.

Support for three-month zinc is expected around $965-$970 over the coming days, while nickel is seen holding above $12,600."

Hopefully the worst is over.

Cheers.