here come the buyers, page-5

Wouldn't be surprised if SIR started to make a move soon seeing that the nickel price is still heading north.

Nickel Targets $30,000; Demand Firm -Gold Matrix

Nickel's rally on LME -- with physical premiums rising to $180/ton vs $140/ton in space of week -- reflecting firm demand, says Pinaki Rath, managing director of metals dealer Gold Matrix Resources; adds "there is not a single reason, either sentimental, technical, or macroeconomic why the rally cannot continue." He expects nickel to challenge $30,000-level before rally is done; LME nickel at $27,360/ton, up $135 since yesterday's kerb, with 166 lots done. Notes, rise in nickel demand contrasts with weak physical demand for copper; Singapore premiums languishing around $30/ton level. LME 3-month copper at $7,930/ton, down $15, in same tight range where it has been trading since end-March. Copper volumes also fairly subdued with 612 lots done so far.